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NY A02043
Bill
Status
1/9/2013
Primary Sponsor
Brian Kavanagh
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AI Summary
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Increases the maximum allowable income limit for senior citizens (age 62+) eligible for tax abatement from $50,000 to $51,000 beginning July 1, 2016, under Real Property Tax Law Section 467-b
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Increases the maximum allowable income limit for persons with disabilities eligible for tax abatement from $50,000 to $51,000 beginning July 1, 2016, under Real Property Tax Law Section 467-b
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Increases the maximum allowable income limit for senior citizen homeowners eligible for exemption from $50,000 to $51,000 beginning July 1, 2016, under Real Property Tax Law Sections 467 and 459-c
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Modifies expiration and reversion provisions for multiple amendments to ensure proper succession when prior law provisions expire
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Takes effect immediately, with staggered effective dates for various income limit amendments coinciding with July 1, 2016
Legislative Description
Increases allowable maximum income 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
print number 2043b
11/5/2014