A new bill in Albany would eliminate a state tax break that benefits real estate developers in New York City. The legislation would end New York’s share of the Opportunity Zone tax break for projects in the city by decoupling the state’s capital gains tax code from the federal government’s and amending the city’s administrative code. Sponsored by Queens state Sen. Michael Gianaris and Assembly member Jeffrey Dinowitz of the Bronx, the bill takes aim
source https://therealdeal.com/2020/07/14/new-york-pols-take-aim-at-opportunity-zones/
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