Senate Bill S7610

2015-2016 Legislative Session

Relates to increasing the tax abatement income limit

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Aging 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-S7610 (ACTIVE) - Details

Current Committee:
Senate Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd §467-b, RPT L

2015-S7610 (ACTIVE) - Summary

Relates to increasing the tax abatement income limit for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities to fifty-five thousand dollars beginning July first, two thousand sixteen.

2015-S7610 (ACTIVE) - Sponsor Memo

2015-S7610 (ACTIVE) - Bill Text download pdf 

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

                                  7610

                            I N  S E N A T E

                              May 11, 2016
                               ___________

Introduced  by Sen. STAVISKY -- read twice and ordered printed, and when
  printed to be committed to the Committee on Aging

AN ACT to amend the real property tax law, in relation to tax  abatement
  for  rent-controlled  and  rent  regulated property occupied by senior
  citizens or persons with disabilities

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraphs a and b of subdivision 3 of section 467-b of the
real  property tax law, paragraph a as amended by section 1 of part U of
chapter 55 of the laws of 2014 and paragraph b as amended by chapter 129
of the laws of 2014, are 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,  AND  FIFTY-FIVE
THOUSAND  BEGINNING JULY FIRST, TWO THOUSAND SIXTEEN, 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.
  b.  for a dwelling unit where the head of the household qualifies as a
person with a disability pursuant to subdivision five of  this  section,
no tax abatement shall be granted if the combined income for all members
of  the household for the current income tax year exceeds fifty thousand
dollars beginning July first,  two  thousand  fourteen,  AND  FIFTY-FIVE

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

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