|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 09, 2019||referred to investigations and government operations|
senate Bill S924
Current Bill Status - In Senate Committee Investigations And Government Operations Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S924 (ACTIVE) - Details
S924 (ACTIVE) - Summary
Authorizes application of the property tax abatement for rent-controlled or rent regulated properties occupied by senior citizens or disabled persons, to those units occupied by tenants paying the maximum allowable rent when such rent exceeds 1/2 of the household income; provides for state payments to cities affected thereby equal to 10% of lost real property tax revenue.
S924 (ACTIVE) - Sponsor Memo
BILL NUMBER: S924 SPONSOR: YOUNG TITLE OF BILL: An act to amend the real property tax law, in relation to tax abatements for dwelling units occupied by certain persons residing in rent-cont- rolled or rent regulated properties, and providing state aid to cities affected by such tax abatements SUMMARY OF PROVISIONS: This legislation would extend the Senior Citizen Rent Increase Exemption (SCRIE) and the Disability Rent Increase Exemption (DRIE), as well as to authorize the City of New York to institute a tenant rent increase exemption program (TRIE), for tenants who pay over 50% of their income in rent and who reside within rent controlled, rent regulated, and with- in certain other types of housing incorporated under the private housing finance law. JUSTIFICATION:
S924 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 924 2019-2020 Regular Sessions I N S E N A T E January 9, 2019 ___________ Introduced by Sen. YOUNG -- read twice and ordered printed, and when printed to be committed to the Committee on Investigations and Govern- ment Operations AN ACT to amend the real property tax law, in relation to tax abatements for dwelling units occupied by certain persons residing in rent-cont- rolled or rent regulated properties, and providing state aid to cities affected by such tax abatements THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The section heading of section 467-b of the real property tax law, as amended by section 1 of chapter 188 of the laws of 2005, is amended to read as follows: Tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities OR PERSONS PAYING A MAXIMUM RENT OR LEGAL REGULATED RENT WHICH EXCEEDS ONE-HALF OF THE COMBINED INCOME OF ALL MEMBERS OF THEIR HOUSEHOLD. § 2. Paragraph b of subdivision 1 of section 467-b of the real proper- ty tax law, as amended by section 1 of chapter 188 of the laws of 2005, is amended to read as follows: b. "Head of the household" means a person (i) who is sixty-two years of age or older, or (ii) who qualifies as a person with a disability pursuant to subdivision five of this section, OR (III) WHO PAYS A MAXI- MUM RENT OR LEGAL REGULATED RENT WHICH EXCEEDS ONE-HALF OF THE COMBINED INCOME OF ALL MEMBERS OF THEIR HOUSEHOLD, and is entitled to the possession or to the use or occupancy of a dwelling unit; § 3. Subdivision 2 of section 467-b of the real property tax law, as amended by chapter 747 of the laws of 1985, paragraph (c) as added by chapter 553 of the laws of 2015, paragraph (d) as added by chapter 343 of the laws of 2016, is amended to read as follows: 2. The governing body of any municipal corporation is hereby author- ized and empowered to adopt, after public hearing, in accordance with EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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