Bill S6746-2013

Increases to $50,000 the annual income of a senior citizen's household for purposes of eligibility for the tax abatement and exemption for rent controlled or regulated property

Increases to $50,000 the annual income of a senior citizen's household for purposes of eligibility for the tax abatement and exemption for rent controlled or regulated property.

Details

Actions

  • Mar 5, 2014: REFERRED TO AGING

Memo

BILL NUMBER:S6746

TITLE OF BILL: An act to amend the real property tax law, in relation to the tax abatement and exemption for rent regulated and rent controlled property occupied by senior citizens

PURPOSE OR GENERAL IDEA OF BILL:

Increases the income thresholds to qualify for the Senior Citizen Rent Increase Exemption (SCRIE) program to $50,000.

SUMMARY OF SPECIFIC PROVISIONS:

Section 1: Amends paragraph a of subdivision 3 of § 467-b of the Real Tax Property Law to increase the maximum income allowable for the tax abatement to $50,000.

Section 2: Amends paragraph d of subdivision 1 of § 467-c of the Real Property Tax law, changing the "eligible head of household" definition to reflect such an increase.

Section 3: Effective date.

JUSTIFICATION:

According to NYC's Housing Vacancy data, there are 90,000 older New Yorkers paying 40-50% or more of their income in rent. This level of rent burden is unsustainable, especially for individuals with fixed incomes. The unaffordable housing crisis in NYC and across the state makes older adults susceptible to homelessness.

Too many older New Yorkers are ineligible for SCRIE under the current rules. The maximum income level has remained stagnant since 2009. During this time, rents have significantly increased. As a result, the IDC proposes to increase the income threshold to qualify for SCRIE to $50,000. Such an expansion will help thousands remain in their homes.

PRIOR LEGISLATIVE HISTORY:

None.

FISCAL IMPLICATIONS:

$5 million state appropriation to reimburse municipalities administering SCRIE.

EFFECTIVE DATE:

Immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 6746 IN SENATE March 5, 2014 ___________
Introduced by Sens. SAVINO, AVELLA, KLEIN, VALESKY, CARLUCCI -- 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 the tax abate- ment and exemption for rent regulated and rent controlled 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 a of subdivision 3 of section 467-b of the real property tax law, as separately amended by chapters 188 and 205 of the laws of 2005, is amended to read as follows: a. for a dwelling unit where the head of the household is a person sixty-two years of age or older, no tax abatement shall be granted if the combined income of all members of the household for the income tax year immediately preceding the date of making application exceeds four thousand dollars, or such other sum not more than twenty-five thousand dollars beginning July first, two thousand five, twenty-six thousand dollars beginning July first, two thousand six, twenty-seven thousand dollars beginning July first, two thousand seven, twenty-eight thousand dollars beginning July first, two thousand eight, [and] twenty-nine thousand dollars beginning July first, two thousand nine, AND FIFTY THOUSAND DOLLARS BEGINNING JULY FIRST, TWO THOUSAND FOURTEEN, as may be provided by the local law, ordinance or resolution adopted pursuant to this section, provided that when the head of the household retires before the commencement of such income tax year and the date of filing the application, the income for such year may be adjusted by excluding salary or earnings and projecting his or her retirement income over the entire period of such year. S 2. Subparagraph 1 of paragraph d of subdivision 1 of section 467-c of the real property tax law, as separately amended by chapters 188 and 205 of the laws of 2005, is amended to read as follows: (1) a person or his or her spouse who is sixty-two years of age or older and is entitled to the possession or to the use and occupancy of a dwelling unit, provided, however, with respect to a dwelling which was
subject to a mortgage insured or initially insured by the federal government pursuant to section two hundred thirteen of the National Housing Act, as amended "eligible head of the household" shall be limit- ed to that person or his or her spouse who was entitled to possession or the use and occupancy of such dwelling unit at the time of termination of such mortgage, and whose income when combined with the income of all other members of the household, does not exceed six thousand five hundred dollars for the taxable period, or such other sum not less than sixty-five hundred dollars nor more than twenty-five thousand dollars beginning July first, two thousand five, twenty-six thousand dollars beginning July first, two thousand six, twenty-seven thousand dollars beginning July first, two thousand seven, twenty-eight thousand dollars beginning July first, two thousand eight, [and] twenty-nine thousand dollars beginning July first, two thousand nine, AND FIFTY THOUSAND DOLLARS BEGINNING JULY FIRST, TWO THOUSAND FOURTEEN, as may be provided by local law; or S 3. This act shall take effect immediately; provided that the amend- ment to section 467-b of the real property tax law made by section one of this act shall not affect the expiration of such section and shall be deemed to expire therewith.

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Discuss!

blog comments powered by Disqus