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Local law · Int 1420-2025

The transfer of tax liens to a land bank

Official titleShow

A Local Law to amend the administrative code of the city of New York, in relation to the transfer of tax liens to a land bank

The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.

Latest action Jan 29, 2026

New York City Council

Sponsor

Sandy Nurse

Council Member, District 37 · Democratic

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Summary

This bill would require the commissioner of finance to require purchasers of tax liens to make best efforts to transfer such liens to the New York city land bank (land bank) upon certain triggering events. Lien purchasers would be required to make best efforts to transfer any liens held in a trust established earlier than 1999 (known as the “graveyard trust”) no later than six months after the establishment of the land bank, and to make best efforts to transfer any other liens after all debt obligations secured by such liens are satisfied. In the event that legal or financial obstacles would prevent the transfer of a lien, the purchasers would be required to report to the City the specific liens and relevant obstacles, and identify when such obstacles may no longer prevent the transfer of such liens in the future. Purchasers who identify liens prevented from transfer would be required to again make best efforts to transfer such liens to a land bank no later than two years after having first been required to attempt such transfer.

Summary from NYC Council (Legistar). How we handle summaries

From the NYC Council's legislative record (Legistar) and official rosters. This record was last updated Aug 1, 2026. About our data

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Where it stands

Became law over a veto.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

Committee on Finance

Cosponsors

Justin L. Brannan, Lynn C. Schulman and 11 others

Cosponsors in the order the New York City Council lists them.

  • Democratic12

Party is shown for the 12 cosponsors who are on Agora.

Shown in neutral colors by design; Agora is non-partisan.

Show the full list (13 names)

Names without a link are in the official record but not on Agora.

Recorded votes

  • Vote: Overridden by Council

    NYC CouncilJan 29, 2026Result: passed

    (44) (7) (0) (0)

  • Vote: Approved by Committee

    Committee on FinanceJan 29, 2026Result: passed

    (14) (2) (0) (1)

  • Vote: Approved by Council

    NYC CouncilDec 18, 2025Result: passed

    (41) (7) (0) (3)

  • Vote: Approved by Committee

    Committee on FinanceDec 18, 2025Result: passed

    (14) (1) (0) (2)

Full history

  1. Jan 29, 2026

    Committee vote

    A motion was made that this Introduction be Approved by Committee approved by Roll Call.

    Committee on Finance

  2. Jan 29, 2026

    A Motion Was Made That This Introduction be Approved by Council Approved by Roll Call.

    A motion was made that this Introduction be Approved by Council approved by Roll Call.

    NYC Council

  3. Jan 29, 2026

    Hearing held

    This Introduction was Hearing Held by Committee

    Committee on Finance

  4. Dec 31, 2025

    Vetoed

    This Introduction was Vetoed by Mayor

    Mayor

  5. Dec 18, 2025

    Passed a chamber

    A motion was made that this Introduction be Approved by Council approved by Roll Call.

    NYC Council

Show full history (9 earlier events)
  1. Dec 18, 2025

    Amended

    This Introduction was Amended by Committee

    Committee on Finance

  2. Dec 18, 2025

    This Introduction Was Amendment Proposed by Comm

    This Introduction was Amendment Proposed by Comm

    Committee on Finance

  3. Dec 18, 2025

    Committee vote

    This Introduction was Approved by Committee

    Committee on Finance

  4. Dec 18, 2025

    Hearing held

    This Introduction was Hearing Held by Committee

    Committee on Finance

  5. Dec 18, 2025

    Sent to the executive

    This Introduction was Sent to Mayor by Council

    NYC Council

  6. Nov 13, 2025

    Hearing held

    This Introduction was Hearing Held by Committee

    Committee on Finance

  7. Nov 13, 2025

    Held over

    This Introduction was Laid Over by Committee

    Committee on Finance

  8. Oct 9, 2025

    Introduced

    This Introduction was Introduced by Council

    NYC Council

  9. Oct 9, 2025

    Referred to committee

    This Introduction was Referred to Comm by Council to the Committee on Finance

    NYC Council