Assembly Bill A5965

2015-2016 Legislative Session

Provides for annual adjustment of the maximum income threshold for eligibility for the senior citizens' rent increase exemption by any increase in the consumer price index

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-A5965 (ACTIVE) - Details

Current Committee:
Assembly Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd ยงยง467-b & 467-c, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A5689
2011-2012: A1700, A9070
2013-2014: A1790

2015-A5965 (ACTIVE) - Summary

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).

2015-A5965 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5965

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              March 9, 2015
                               ___________

Introduced  by  M.  of A. CYMBROWITZ, DINOWITZ, CRESPO, JAFFEE, SIMOTAS,
  COLTON, ROSENTHAL, ROBINSON, WEPRIN, HOOPER, MOSLEY -- Multi-Sponsored
  by -- M. of A. ABBATE, AUBRY, GOTTFRIED, SCHIMEL, TITONE -- read  once
  and referred to the Committee on Aging

AN ACT to amend the real property tax law, in relation to 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

  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 amended by section 1 of part U of chapter 55 of the
laws of 2014, 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,  twenty-nine  thousand
dollars  beginning  July  first,  two  thousand nine, and fifty thousand
dollars beginning July first, two thousand fourteen, 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 applica-
tion, 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 INCOME THRESHOLD PROVIDED  FOR  HEREIN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09169-02-5
              

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