Authorizes the granting of an additional real property tax exemption for certain redevelopment company projects within the county of Nassau

This bill allows Nassau County municipalities to offer an additional twenty-five-year real property tax exemption to specific redevelopment projects. It applies to projects acquired by mutual redevelopment companies or those restricted to housing for seniors aged fifty-five and older. The measure is designed to prevent significant increases in carrying or maintenance charges that would occur if the initial tax exemption expired. Local governments can choose to extend the exemption at the current rate or modify existing extensions to provide this relief.