Provides for annual adjustment by the commissioner of housing and community renewal of the maximum income threshold for eligibility for the senior citizens' rent increase exemption (SCRIE) and for the municipal property tax abatement for rent-controlled and rent regulated property occupied by senior citizens by any increase in the consumer price index (CPI); raises eligibility of income level to $30,000; excludes from the definition of "income" the out of pocket expenses for all medical and prescription drugs not reimbursed or paid for by insurance in determining eligibility for the real property tax exemption relating to the senior citizen rent increase exemption; provides such additional exclusions from income and the indexing are at local option.
S T A T E O F N E W Y O R K
________________________________________________________________________
8886
I N A S S E M B L Y
(PREFILED)
January 4, 2012
___________
Introduced by M. of A. QUART -- read once and referred to the Committee
on Aging
AN ACT to amend the real property tax law, in relation to increasing the
allowable maximum income of persons occupying rental units otherwise
eligible for tax abatement in certain cases, increasing the combined
household income limit for eligibility for a senior citizen rent
increase exemption (SCRIE) and for a municipal property tax abatement
for rent-controlled and rent regulated property occupied by senior
citizens on the basis of the consumer price index, and including with-
in the definition of "income" the deduction of the out-of-pocket
expenses for all medical and prescription drugs not reimbursed or
paid for by insurance
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph a of subdivision 3 of section 467-b of the real
property tax law, as separately amended by chapters 188 and 205 of the
laws of 2005, is amended to read as follows:
a. for a dwelling unit where the head of the household is a person
sixty-two years of age or older, no tax abatement shall be granted if
the combined income of all members of the household for the income tax
year immediately preceding the date of making application exceeds four
thousand dollars, or such other sum not more than [twenty-five thousand
dollars beginning July first, two thousand five, twenty-six thousand
dollars beginning July first, two thousand six, twenty-seven thousand
dollars beginning July first, two thousand seven, twenty-eight thousand
dollars beginning July first, two thousand eight, and twenty-nine thou-
sand dollars beginning July first, two thousand nine,] THIRTY THOUSAND
DOLLARS as may be provided by the local law, ordinance or resolution
adopted pursuant to this section, provided that when the head of the
household retires before the commencement of such income tax year and
the date of filing the application, the income for such year may be
adjusted by excluding salary or earnings and projecting his or her
retirement income over the entire period of such year. THE MAXIMUM
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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