other
confidence high
sentiment neutral
materiality 0.20
SL Green amends partnership agreement to allow NYC PTET election for 2022 and later years
SL GREEN REALTY CORP
- Twenty-Ninth Amendment authorizes NYC PTET election under NY Tax Law Section 868 for 2022 and future years.
- Partnership may pay NYC PTET tax on behalf of eligible partners, who receive corresponding tax credit.
- Partners with PTET deficit exceeding $1M must repay upon request and grant security interest in units.
- Amendment also reaffirms existing NYS PTET election provisions from prior amendment.