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 to offer an extra twenty-five-year real property tax exemption for specific redevelopment projects. It applies to properties owned by mutual redevelopment companies or senior housing cooperatives where ending the initial tax break would cause significant increases in maintenance fees. Under the new rules, the county can extend the tax exemption or adjust existing extensions to prevent these financial burdens on residents. The legislation takes effect immediately upon enactment.