Scored 8/10 on whether it helps or hurts everyday people.
The Fined Star Bill
Co-ops could be fined $500 for missing STAR tax credit
Provides for the imposition of a fine for the failure of a cooperative apartment corporation to credit the STAR exemption to the tenant-stockholders thereof.
Good for everyday people ·
If a co‑op does not give the STAR tax break to its owners, it could be hit with a $500 fine and owners could withhold rent until fixed.
Our take
What we think, in plain words.
The bill pushes co‑ops to honor tax relief for owners, protecting their money and giving a clear penalty if they ignore the rule; it also lets owners stop paying until the credit is applied.
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The facts
What the bill actually says, no spin.
- The bill adds a civil penalty of up to $500 for each violation.
- The penalty can be recovered by the county attorney or city counsel.
- Tenant‑stock‑holders may withhold payments until the STAR credit is given.
- The rule does not apply if the failure is due to an assessor error.
- It takes effect for the 2025‑2026 school year.
In the news
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Sources
Read it yourself: the official bill and records.
This bill is in the New York Bill Book 2026
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