Bill Text: NY S04216 | 2021-2022 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relates to tax abatement for rent-controlled and rent regulated property occupied by and real property owned by senior citizens or persons with disabilities.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed - Dead) 2022-04-21 - PRINT NUMBER 4216A [S04216 Detail]

Download: New_York-2021-S04216-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          4216

                               2021-2022 Regular Sessions

                    IN SENATE

                                    February 3, 2021
                                       ___________

        Introduced  by Sen. STAVISKY -- 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 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:

     1    Section 1. Paragraphs a and b of subdivision 3 of section 467-b of the
     2  real  property tax law, paragraph a as amended by section 1 of part U of
     3  chapter 55 of the laws of 2014 and paragraph b as amended by chapter 129
     4  of the laws of 2014, are amended to read as follows:
     5    a. for a dwelling unit where the head of the  household  is  a  person
     6  sixty-two  years  of  age or older, no tax abatement shall be granted if
     7  the combined income of all members of the household for the  income  tax
     8  year  immediately  preceding the date of making application exceeds four
     9  thousand dollars, or such other sum not more than  twenty-five  thousand
    10  dollars  beginning  July  first,  two thousand five, twenty-six thousand
    11  dollars beginning July first, two thousand  six,  twenty-seven  thousand
    12  dollars  beginning July first, two thousand seven, twenty-eight thousand
    13  dollars beginning July first, two thousand eight,  twenty-nine  thousand
    14  dollars  beginning  July  first,  two  thousand nine, and fifty thousand
    15  dollars beginning July first,  two  thousand  fourteen,  and  fifty-five
    16  thousand  dollars  beginning July first, two thousand twenty-one, as may
    17  be provided by the local law, ordinance or resolution  adopted  pursuant
    18  to  this  section,  provided that when the head of the household retires
    19  before the commencement of such income tax year and the date  of  filing
    20  the  application,  the income for such year may be adjusted by excluding
    21  salary or earnings and projecting his or her retirement income over  the
    22  entire period of such year.
    23    b.  for a dwelling unit where the head of the household qualifies as a
    24  person with a disability pursuant to subdivision five of  this  section,

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03380-01-1
        S. 4216                             2

     1  no tax abatement shall be granted if the combined income for all members
     2  of  the household for the current income tax year exceeds fifty thousand
     3  dollars beginning July first,  two  thousand  fourteen,  and  fifty-five
     4  thousand  dollars  beginning July first, two thousand twenty-one, as may
     5  be provided by the local law, ordinance or resolution  adopted  pursuant
     6  to this section.
     7    §  2. This act shall take effect immediately, provided that the amend-
     8  ments to paragraphs a and b of subdivision 3 of  section  467-b  of  the
     9  real  property  tax law made by section one of this act shall not affect
    10  the expiration of such paragraphs and shall be deemed to  expire  there-
    11  with.