S T A T E O F N E W Y O R K
________________________________________________________________________
798
2019-2020 Regular Sessions
I N A S S E M B L Y
January 11, 2019
___________
Introduced by M. of A. L. ROSENTHAL -- read once and referred to the
Committee on Aging
AN ACT to amend the real property tax law, in relation to the definition
of income for 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. Paragraph c of subdivision 1 of section 467-b of the real
property tax law, as amended by chapter 500 of the laws of 2001, is
amended to read as follows:
c. "Income" means income from all sources after deduction of all
income and social security taxes, UNION DUES AND COURT-ORDERED SUPPORT
PAYMENTS and includes social security and retirement benefits, supple-
mental security income and additional state payments, public assistance
benefits, interest, dividends, net rental income, salary or BUSINESS
earnings OR LOSSES, NET CAPITAL GAINS OR LOSSES, and net income from
self-employment, but shall not include gifts or inheritances, payments
made to individuals because of their status as victims of Nazi perse-
cution, as defined in P.L. 103-286, or increases in benefits accorded
pursuant to the social security act or a public or private pension paid
to any member of the household which increase, in any given year, does
not exceed the consumer price index (all items United States city aver-
age) for such year which take effect after the date of eligibility of
head of the household receiving benefits hereunder whether received by
the head of the household or any other member of the household;
§ 2. This act shall take effect immediately, provided that the amend-
ments to paragraph c of subdivision 1 of section 467-b of the real prop-
erty tax law, made by section one of this act, shall not affect the
expiration of such section and shall be deemed to expire therewith.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02583-01-9