Relates to tax abatements for building owners in a city having a population of one million or more who complete exterior repairs

This bill, S 6211 (the "RESTORE Act"), offers property tax abatements to building owners in New York City (population over 1 million) who complete required facade repairs and remove associated scaffolding/sidewalk sheds within specific timeframes. Owners who finish repairs and remove scaffolding within three months receive a 50% tax abatement on repair costs or property taxes (whichever is lower), with the abatement decreasing to 5% if completed within 12 months. Building owners who fail to complete repairs and remove scaffolding within 18 months face penalties of 10% plus 2% per additional month (capped at 25% of property taxes). The program applies to repairs mandated under NYC's 1998 facade safety law, aiming to reduce prolonged sidewalk obstructions while easing financial burdens on owners.