---
type: "Bill"
title: "Relates to allowing certain villages to enact a tax exemption for newly developed single-family and multi-family residential properties"
description: "Allows certain villages to enact a tax exemption for newly constructed single-family and multi-family residential properties over the first five years the property is reassessed based on the difference in assessments."
jurisdiction: "us/states/ny"
legislature: "New York Legislature"
session: "2021-2022"
identifier: "A 5987"
citation: "New York A 5987 (2021-2022)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["STIRPE"]
version_count: 4
action_count: 22
vote_count: 2
first_action: "2021-03-04"
last_action: "2022-08-17"
source: "openstates"
source_identifier: "ocd-bill/31001502-9003-43d6-81ed-9ad5d39f96f3"
source_url: "http://www.nysenate.gov/legislation/bills/2021/A5987"
source_hash: "337577e120f349204256490a959799b5b2e67197430679dc1058cb61f71a5837"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ny"]
---

# New York A 5987 (2021-2022) — Relates to allowing certain villages to enact a tax exemption for newly developed single-family and multi-family residential properties

Allows certain villages to enact a tax exemption for newly constructed single-family and multi-family residential properties over the first five years the property is reassessed based on the difference in assessments.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **A5987** (committee substitute) — [source](http://assembly.state.ny.us/leg/?sh=printbill&bn=A5987&term=2021&Text=Y)
2. **A5987A** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2021/A5987A)
3. **A5987B** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2021/A5987B)
4. **A5987C** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2021/A5987C)

## Votes

- Floor Vote - Version: C — **62–1** (pass) · upper
- Assembly Vote — **144–0** (pass) · lower

## Sponsors

- STIRPE — primary (person)
- BRABENEC — cosponsor (person)
- COOK — cosponsor (person)
- DICKENS — cosponsor (person)
- HYNDMAN — cosponsor (person)
- RIVERA J — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2021-03-04** REFERRED TO REAL PROPERTY TAXATION `referral-committee`
- **2022-01-05** REFERRED TO REAL PROPERTY TAXATION `referral-committee`
- **2022-02-03** AMEND AND RECOMMIT TO REAL PROPERTY TAXATION `amendment-passage, referral-committee`
- **2022-02-03** PRINT NUMBER 5987A `amendment-passage`
- **2022-02-15** AMEND AND RECOMMIT TO REAL PROPERTY TAXATION `amendment-passage, referral-committee`
- **2022-02-15** PRINT NUMBER 5987B `amendment-passage`
- **2022-03-22** REPORTED REFERRED TO WAYS AND MEANS `referral-committee`
- **2022-05-05** AMEND AND RECOMMIT TO WAYS AND MEANS `amendment-passage, referral-committee`
- **2022-05-05** PRINT NUMBER 5987C `amendment-passage`
- **2022-05-09** REPORTED REFERRED TO RULES `referral-committee`
- **2022-05-10** REPORTED
- **2022-05-10** RULES REPORT CAL.122
- **2022-05-10** ORDERED TO THIRD READING RULES CAL.122
- **2022-05-11** PASSED ASSEMBLY `passage`
- **2022-05-11** DELIVERED TO SENATE
- **2022-05-11** REFERRED TO LOCAL GOVERNMENT `referral-committee`
- **2022-06-02** SUBSTITUTED FOR S8268B
- **2022-06-02** 3RD READING CAL.1900
- **2022-06-02** PASSED SENATE `passage`
- **2022-06-02** RETURNED TO ASSEMBLY
- **2022-08-05** DELIVERED TO GOVERNOR `executive-receipt`
- **2022-08-17** SIGNED CHAP.510 `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/31001502-9003-43d6-81ed-9ad5d39f96f3`. Confidence: reported (aggregated from official New York legislature records).