Bill Text: NY S01819 | 2023-2024 | General Assembly | Amended
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: (Engrossed) 2024-05-30 - referred to aging [S01819 Detail]
Download: New_York-2023-S01819-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 1819--A Cal. No. 1058 2023-2024 Regular Sessions IN SENATE January 17, 2023 ___________ Introduced by Sens. STAVISKY, CHU -- read twice and ordered printed, and when printed to be committed to the Committee on Aging -- recommitted to the Committee on Aging in accordance with Senate Rule 6, sec. 8 -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading 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. LBD04986-02-4S. 1819--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.
