Bill Text: NY A02122 | 2023-2024 | General Assembly | Amended

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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 2-0)

Status: (Introduced) 2024-05-22 - print number 2122a [A02122 Detail]

Download: New_York-2023-A02122-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         2122--A

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                    January 23, 2023
                                       ___________

        Introduced  by  M.  of A. ROZIC, HEVESI -- read once and referred to the
          Committee on Aging -- recommitted to the Committee on Aging in accord-
          ance with Assembly Rule  3,  sec.  2  --  committee  discharged,  bill
          amended,  ordered reprinted as amended and recommitted to said commit-
          tee

        AN ACT to amend the real property tax law, in relation to tax  abatement
          for  rent-controlled  and rent regulated property occupied by and real
          property owned 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-four, 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

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04986-03-4
        A. 2122--A                          2

     1  salary or earnings and projecting [his or her] such head of  household's
     2  retirement income over the entire period of such year.
     3    b.  for a dwelling unit where the head of the household qualifies as a
     4  person with a disability pursuant to subdivision five of  this  section,
     5  no tax abatement shall be granted if the combined income for all members
     6  of  the household for the current income tax year exceeds fifty thousand
     7  dollars beginning July first,  two  thousand  fourteen,  and  fifty-five
     8  thousand  dollars beginning July first, two thousand twenty-four, as may
     9  be provided by the local law, ordinance or resolution  adopted  pursuant
    10  to this section.
    11    § 2. Subparagraph (i) of paragraph (a) of subdivision 3 of section 467
    12  of the real property tax law, as amended by section 2 of part K of chap-
    13  ter 59 of the laws of 2023, is amended to read as follows:
    14    (i) if the income of the owner or the combined income of the owners of
    15  the property for the applicable income tax year exceeds the sum of three
    16  thousand dollars, or such other sum not less than three thousand dollars
    17  nor more than [fifty] fifty-five thousand dollars, as may be provided by
    18  the local law, ordinance or resolution adopted pursuant to this section.
    19    §  3.  Subparagraph  (i)  of paragraph (a) of subdivision 5 of section
    20  459-c of the real property tax law, as amended by section 8 of part K of
    21  chapter 59 of the laws of 2023, is amended to read as follows:
    22    (i) if the income of the owner or the combined income of the owners of
    23  the property for the applicable income tax year exceeds the sum of three
    24  thousand dollars, or such other sum not less than three thousand dollars
    25  nor more than [fifty] fifty-five thousand dollars, as may be provided by
    26  the local law or resolution adopted pursuant to this section.
    27    § 4. This act shall take effect immediately; provided,  however,  that
    28  the  amendments  to paragraphs a and b of subdivision 3 of section 467-b
    29  of the real property tax law made by section one of this act  shall  not
    30  affect  the  expiration of such paragraphs and shall be deemed to expire
    31  therewith.