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NY S00910
Bill
Status
1/5/2011
Primary Sponsor
Liz Krueger
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AI Summary
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Increases the allowable maximum combined household income limit from $29,000 to $50,000 for seniors age 62 or older to qualify for tax abatement on rental dwelling units under Real Property Tax Law Section 467-b.
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Increases the allowable maximum combined household income limit from $29,000 to $50,000 for eligible heads of household to qualify for tax exemptions under Real Property Tax Law Section 467-c.
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Allows local governments to set income limits up to the new $50,000 maximum through local law, ordinance, or resolution.
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Takes effect 30 days after becoming law, with amendments to Section 467-b expiring in accordance with existing law (Chapter 576 of the laws of 1974).
Legislative Description
Increases allowable maximum income (from $20,000 to $50,000) of persons occupying rental units otherwise eligible for tax abatement in certain cases under provisions applicable to senior citizens' rent increase exemption (SCRIE).
Last Action
REFERRED TO AGING
1/4/2012