The Real Estate Board of New York has proposed that 421-a tax abatements, which are given as incentives to build affordable housing, be based on the full value of the property. Since 2007, legislation limited deductions to $65,000, although the original state law from the 1980s provided that 421-a certificates were based on full value. Some real estate insiders suggest that the 421-a certificates are trading as much as $23,000 per certificate lower in the current market, and that rolling back the cap would help build a little momentum in the stalled real estate market. No new certificates have been issued since the December 27, 2007 legislated deadline mandated the cap. The proposal must be reviewed by the Department of Housing Preservation and Development before being approved through the state legislature and the governor.