NYC Mayor Says MSG's $16M Yearly Tax Break Should Go

Law360, New York (January 28, 2014, 5:46 PM EST) -- New York City Mayor Bill de Blasio said Monday that an estimated $16 million annual tax break enjoyed by the Madison Square Garden Co. should be eliminated, telling state lawmakers that the $4.35 billion sports and entertainment company shouldn't be getting free money.

City legislators have been targeting the tax break, enacted in 1982, for removal via state legislation for some time but they have run into opposition from Republicans and from Gov. Andrew Cuomo, who was quoted in April as opposing the move.

“We can't...
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