A.B. 3070, which Assemblyman Harvey Epstein, D-Manhattan, introduced Friday, would suspend commercial rent tax for tenants with rent of less than $1 million a year. Currently, tenants below 96th Street in Manhattan are required to pay commercial rent tax if their annual rent is more than $250,000.
If enacted, the suspension would begin June 1, 2020, and end in the tax period after Democratic Mayor Bill de Blasio's coronavirus emergency executive order expires.
--Editing by Tim Ruel.
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