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NY S00018
Bill
Status
1/9/2013
Primary Sponsor
Ruben Diaz
Click for details
AI Summary
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Amends the definition of "income" in real property tax law to allow deduction of unreimbursed medical and prescription drug expenses for senior citizens in rent-controlled and rent-regulated properties.
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Medical and prescription drug expense deductions apply only if a municipality's governing board adopts a local law, ordinance, or resolution authorizing the deduction after holding a public hearing.
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Modifies income calculations under both section 467-b (rent-controlled properties) and section 467-c (rent-regulated properties) of the real property tax law.
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Takes effect immediately, with the amendment to section 467-b expiring when that section expires.
Legislative Description
Excludes expenditures for medical care not covered by insurance from the definition of "income" for the purpose of a real property tax abatement for rent-controlled and rent regulated property occupied by senior citizens.
Last Action
REFERRED TO AGING
1/8/2014