senate Bill S4493

2017-2018 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

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Archive: Last Bill Status - In Senate Committee Aging Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 16, 2017 referred to aging

Co-Sponsors

S4493 (ACTIVE) - Details

See Senate Version of this Bill:
S7069
Current Committee:
Senate Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd §§467-b & 467-c, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: S1134
2011-2012: S1372
2013-2014: S1218
2015-2016: S3865
2019-2020: S2363
2021-2022: S2897

S4493 (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).

S4493 (ACTIVE) - Sponsor Memo

S4493 (ACTIVE) - Bill Text download pdf


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

                                  4493

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                            February 16, 2017
                               ___________

Introduced  by Sen. SQUADRON -- 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 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
SHALL BE INCREASED BY ORDER OF THE COMMISSIONER OF THE STATE DIVISION OF
HOUSING AND COMMUNITY RENEWAL  ON JANUARY FIRST OF EACH YEAR TO  REFLECT

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

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