Cuomo, real estate executives meet to discuss expired 421-a tax break

On Sept. 26, the Cuomo Administration met with representatives from the real estate industry in New York City to attempt to reach an agreement towards reinstating the 421-a tax break. The 421-a tax break, which was created in the 1970s to spur development, expired in June of 2015 when the law governing it sunset. During the 2015 legislative session, Gov. Andrew Cuomo tasked developers and the Building and Construction Trades Council with reaching an agreement by the end of the year. The parties got close to a deal, but it did not materialize and 421-a officially expired in January. Read the full story here.