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NY S01372
Bill
Status
1/7/2011
Primary Sponsor
Bill Perkins
Click for details
AI Summary
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Increases the maximum combined household income threshold for Senior Citizen Rent Increase Exemption (SCRIE) eligibility, allowing municipalities to set limits up to $25,000 (2005), $26,000 (2006), $27,000 (2007), $28,000 (2008), and $29,000 (2009)
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Requires the Commissioner of the Division of Housing and Community Renewal to adjust income thresholds annually on January 1st based on increases in the Regional Consumer Price Index (CPI-U) for the New York metropolitan area
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Applies the same annual CPI-based adjustment mechanism to the municipal property tax abatement program for rent-controlled and rent-regulated properties occupied by senior citizens
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Modifies income eligibility rules for the property tax abatement program to include persons with disabilities alongside senior citizens age 62 and older
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Takes effect immediately, with expiration contingent upon the existing sunset provisions in chapter 576 of the 1974 laws
Legislative Description
Provides for annual adjustment by the commissioner of housing and community renewal of the maximum income threshold for eligibility for the senior citizens' rent increase exemption (SCRIE) and for the municipal property tax abatement for rent-controlled and rent regulated property occupied by senior citizens by any increase in the consumer price index (CPI).
Last Action
REFERRED TO AGING
1/4/2012