Bill Text: NY A01312 | 2019-2020 | General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to aging [A01312 Detail]

Download: New_York-2019-A01312-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          1312
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 14, 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 pension income
          and 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. Paragraph c of subdivision 1 of section 467-b of  the  real
     2  property  tax  law,  as  amended  by chapter 500 of the laws of 2001, is
     3  amended to read as follows:
     4    c. "Income" means income from  all  sources  after  deduction  of  all
     5  income  and  social  security  taxes  and  includes  social security and
     6  retirement benefits, supplemental security income and  additional  state
     7  payments,  public  assistance  benefits, interest, dividends, net rental
     8  income, salary or earnings, and net  income  from  self-employment,  but
     9  shall  not  include  gifts or inheritances, payments made to individuals
    10  because of their status as victims of Nazi persecution,  as  defined  in
    11  P.L.  103-286,  or increases in benefits accorded pursuant to the social
    12  security act or a public or private pension paid to any  member  of  the
    13  household  [which  increase,  in  any  given  year,  does not exceed the
    14  consumer price index (all items United States city  average)]  for  such
    15  year  which  take  effect  after  the date of eligibility of head of the
    16  household receiving benefits hereunder whether received by the  head  of
    17  the household or any other member of the household;
    18    §  2. This act shall take effect immediately, provided that the amend-
    19  ment to paragraph c of subdivision 1 of section 467-b of the real  prop-
    20  erty  tax  law,  made  by  section one of this act, shall not affect the
    21  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.
                                                                   LBD03321-01-9