I am a co-op shareholder in New York urging you to extend and expand the J-51 tax credit in the FY 2027 budget.

The J-51 tax abatement program is a critical tool to help building owners, especially co-op and condo shareholders, save money on major capital improvements, including energy efficiency upgrades and electrification projects to comply with Local Law 97, NYC's landmark emissions reduction law.

However, the current June 2026 deadline for completing these upgrades is not enough time for over 200,000 co-ops to take advantage of this tax break, which can help prevent skyrocketing maintenance costs and be used on capital improvements that make our homes healthier and greener.

We urge the New York State Legislature to pass a J-51 extension bill in 2026 in the upcoming budget so this essential green tax break doesn’t lapse.

A 10-year extension will allow more buildings to access this essential funding, reduce emissions, lower operating costs for residents, and ensure that low and moderate-income homeowners can afford to make these necessary improvements. We also support a raise on the eligibility cap from $45,000 to at least $60,000 for J-51 to help more middle class co-ops and condos comply with Local Law 97.

I urge you to take action so we can maintain the affordability of our homes.