NYC Council Introduction 1420

intro.nyc/1420-2025 2024-2025 Legislative Session
Sale of interests in tax liens to a land bank.
Status: Committee Committee on Finance
Sponsored by Sandy Nurse
Introduced: October 9, 2025

This bill would require the commissioner of finance to execute a sale of the City’s interests in tax liens held in trust to a city land bank upon its establishment. This bill would require the commissioner to execute such sale no later than 6 months after the creation of a city land bank. In the event that any such sale could not be accomplished, this bill would require the commissioner to submit a report to the council to explain the reasons therefor.