|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Feb 16, 2017||referred to aging|
senate Bill S4493
Archive: Last Bill Status - In Senate Committee Aging Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S4493 (ACTIVE) - Details
- See Senate Version of this Bill:
- 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:
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
BILL NUMBER: S4493 TITLE OF BILL : 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 PURPOSE : Increases the maximum income allowable for the senior citizen rent increase exemption (SCRIE) annually to reflect increases in the regional Consumer Price Index (CPI). SUMMARY OF PROVISIONS : Section one of this legislation amends paragraph a of subdivision 3 of § 467-b of the Real Tax Property Law by directing the commissioner of the State Division of Housing and Community Renewal to annually increase the maximum income allowable for the tax abatement based on the regional CPI. Section two amends paragraph d of subdivision 1 of § 467-c of the Real Property Tax law, changing the "eligible head of household" definition
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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