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NY S01786

Bill

Official Source

Status

Introduced

1/12/2011

Primary Sponsor

Toby Stavisky

Click for details

Origin

Senate

2011-2012 General Assembly

AI Summary

  • Amends the senior citizens' rent increase exemption (SCRIE) program under real property tax law to change the income threshold from one-third to one-fourth of combined household income
  • Allows tax abatement for rent increases that cause regulated rent to exceed one-fourth of household income, instead of the previous one-third threshold
  • Applies to heads of household who do not receive monthly shelter allowances under social services law
  • Takes effect immediately upon enactment, with amendments expiring when section 467-b of the real property tax law expires

Legislative Description

Provides that the tax abatements for certain rent-controlled and rent-regulated property occupied by senior citizens commonly known as the senior citizens' rent increase exemption (SCRIE) shall be applicable where the rent constitutes more than one-fourth rather than one-third of the tenant's income.

Last Action

REFERRED TO AGING

1/4/2012

Committee Referrals

Aging1/12/2011

Full Bill Text

No bill text available