Senate Bill S464

2015-2016 Legislative Session

Includes in definition of income all sources after deduction of all medical and prescription drugs not reimbursed or paid by insurance

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Sponsored By

Archive: Last Bill Status - In Senate Committee Aging Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-S464 (ACTIVE) - Details

See Assembly Version of this Bill:
A1113
Current Committee:
Senate Aging
Law Section:
Real Property Tax Law
Laws Affected:
Amd §§467-b & 467-c, RPT L
Versions Introduced in Other Legislative Sessions:
2009-2010: A1800, A9516
2011-2012: S500, A758
2013-2014: S18, A428
2017-2018: S4879, A1374
2019-2020: A3379
2021-2022: A2253
2023-2024: A6053

2015-S464 (ACTIVE) - Summary

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.

2015-S464 (ACTIVE) - Sponsor Memo

2015-S464 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   464

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by  Sen.  DIAZ  --  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:

  Section 1. Paragraph c of subdivision 1 of section 467-b of  the  real
property  tax  law,  as  amended  by chapter 500 of the laws of 2001, is
amended to read as follows:
  c. "Income" means income from  all  sources  after  deduction  of  all
income  and  social  security  taxes  and  includes  social security and
retirement benefits, supplemental security income and  additional  state
payments,  public  assistance  benefits, interest, dividends, net rental
income, salary or earnings, and net  income  from  self-employment,  but
shall  not  include  gifts or inheritances, payments made to individuals
because of their status as victims of Nazi persecution,  as  defined  in
P.L.  103-286,  or increases in benefits accorded pursuant to the social
security act or a public or private pension paid to any  member  of  the
household which increase, in any given year, does not exceed the consum-
er  price  index  (all  items  United States city average) for such year
which take effect after the date of eligibility of head of the household
receiving benefits hereunder whether received by the head of the  house-
hold  or any other member of the household  AND ANY SUCH INCOME SHALL BE
OFFSET BY ALL MEDICAL AND PRESCRIPTION DRUG EXPENSES ACTUALLY PAID WHICH
WERE NOT REIMBURSED OR PAID FOR BY INSURANCE, IF THE GOVERNING BOARD  OF
A MUNICIPALITY, AFTER A PUBLIC HEARING, ADOPTS A LOCAL LAW, ORDINANCE OR
RESOLUTION PROVIDING THEREFOR;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00015-01-5
              

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