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Assembly Bill A5598

2025-2026 Legislative Session

Extends the effectiveness of certain provisions dealing with tax exemptions for rent regulated properties occupied by certain persons

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Current Bill Status - In Assembly Committee

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2025-A5598 (ACTIVE) - Details

See Senate Version of this Bill:
S5547
Current Committee:
Assembly Aging
Law Section:
Taxation
Laws Affected:
Amd Part U §4, Chap 55 of 2014; amd §4, Chap 129 of 2014
Versions Introduced in Other Legislative Sessions:
2021-2022: A10142, S9308
2023-2024: A10141, S9418

2025-A5598 (ACTIVE) - Summary

Extends the effectiveness of certain provisions dealing with tax exemptions for rent regulated properties occupied by senior citizens and persons with disabilities.

2025-A5598 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5598
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 18, 2025
                                ___________
 
 Introduced  by M. of A. LUCAS -- read once and referred to the Committee
   on Aging
 
 AN ACT to amend part U of chapter 55 of the laws of 2014,  amending  the
   real  property tax law relating to the tax abatement and exemption for
   rent regulated and rent controlled property occupied by  senior  citi-
   zens,  in  relation to the effectiveness thereof; and to amend chapter
   129 of the laws of 2014, amending the real property tax  law  relating
   to  the  tax  abatement  and  exemption  for  rent  regulated and rent
   controlled property occupied by persons with disabilities, in relation
   to the effectiveness thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  4  of  part U of chapter 55 of the laws of 2014,
 amending the real property tax law relating to  the  tax  abatement  and
 exemption  for  rent  regulated and rent controlled property occupied by
 senior citizens, as amended by chapter 144  of  the  laws  of  2024,  is
 amended to read as follows:
   § 4. This act shall take effect July 1, 2014, and sections one and two
 of  this  act  shall expire and be deemed repealed June 30, [2026] 2028;
 provided that the amendment to section 467-b of the  real  property  tax
 law  made  by section one of this act shall not affect the expiration of
 such section and shall be deemed to expire therewith.
   § 2. Section 4 of chapter 129 of the laws of 2014, amending  the  real
 property  tax  law  relating to the tax abatement and exemption for rent
 regulated and rent controlled property occupied by persons with disabil-
 ities, as amended by chapter 144 of the laws of 2024, is amended to read
 as follows:
   § 4. This act shall take effect July 1, 2014 provided, however, that:
   (a) the amendments to paragraph b of subdivision 3 of section 467-b of
 the real property tax law made by section  one  of  this  act  shall  be
 subject  to the expiration and reversion of such subdivision pursuant to
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08256-01-5

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