Bill Text: NY S00717 | 2023-2024 | General Assembly | Introduced

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Bill Title: Excludes expenditures for medical care not covered by insurance from the definition of "income" for the purpose of a real property tax abatement for rent-controlled and rent regulated property occupied by senior citizens.

Spectrum: Bipartisan Bill

Status: (Engrossed) 2024-02-28 - referred to aging [S00717 Detail]

Download: New_York-2023-S00717-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           717

                               2023-2024 Regular Sessions

                    IN SENATE

                                     January 6, 2023
                                       ___________

        Introduced  by  Sen.  CLEARE -- 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  excluding
          certain  expenditures for medical care from the definition of "income"
          for the purpose of a tax abatement for rent-controlled and rent  regu-
          lated property occupied by senior citizens

          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 consum-
    14  er  price  index  (all  items  United States city average) for such year
    15  which take effect after the date of eligibility of head of the household
    16  receiving benefits hereunder whether received by the head of the  house-
    17  hold  or any other member of the household  and any such income shall be
    18  offset by all medical and prescription drug expenses actually paid which
    19  were not reimbursed or paid for by insurance, if the governing board  of
    20  a municipality, after a public hearing, adopts a local law, ordinance or
    21  resolution providing therefor;

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03690-01-3
        S. 717                              2

     1    § 2. Paragraph f of subdivision 1 of section 467-c of the real proper-
     2  ty tax law, as amended by chapter 500 of the laws of 2001, is amended to
     3  read as follows:
     4    f.  "Income"  means income received by the eligible head of the house-
     5  hold combined with the income of all other members of the household from
     6  all sources after deduction of all income and social security taxes  and
     7  includes  without  limitation,  social security and retirement benefits,
     8  supplemental security  income  and  additional  state  payments,  public
     9  assistance  benefits, interest, dividends, net rental income, salary and
    10  earnings, and net income from self employment,  but  shall  not  include
    11  gifts  or  inheritances,  payments  made to individuals because of their
    12  status as victims of Nazi persecution as defined in  P.L.  103-286,  nor
    13  increases  in benefits accorded pursuant to the social security act or a
    14  public or private pension paid to any  member  of  the  household  which
    15  increase,  in  any  given year, does not exceed the consumer price index
    16  (all items United States city average) for such year which  take  effect
    17  after  the eligibility date of an eligible head of the household receiv-
    18  ing benefits hereunder whether received by  the  eligible  head  of  the
    19  household  or  any  other  member  of the household  and any such income
    20  shall be offset by all medical and prescription drug  expenses  actually
    21  paid  which were not reimbursed or paid for by insurance, if the govern-
    22  ing board of a municipality, after a public hearing, adopts a local law,
    23  ordinance or resolution providing therefor.  When the eligible  head  of
    24  the  household  has  retired on or after the commencement of the taxable
    25  period and prior to the  date  of  making  an  application  for  a  rent
    26  increase  exemption  order/tax  abatement  certificate  pursuant to this
    27  section, such person's income shall be adjusted by excluding  salary  or
    28  earnings  and projecting such person's retirement income over the entire
    29  taxable period.
    30    § 3. This act shall take effect immediately.