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NY S01218
Bill
Status
Introduced
1/9/2013
Primary Sponsor
Bill Perkins
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AI Summary
- Establishes annual automatic adjustment of income thresholds for senior citizen rent increase exemption (SCRIE) based on regional consumer price index (CPI-U) for the N.Y.-Northeastern N.J. area, effective January 1st each year
- Applies CPI adjustments to section 467-b (tax abatement eligibility) with a maximum income threshold previously capped at $29,000 as of July 1, 2009
- Applies CPI adjustments to section 467-c (eligible head of household definition) with a maximum income threshold previously capped at $29,000 as of July 1, 2009
- Directs the Commissioner of the State Division of Housing and Community Renewal to implement the annual adjustments based on the preceding twelve-month CPI increase
- Takes effect immediately with expiration tied to section 17 of chapter 576 of the laws of 1974
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
1/8/2014
Committee Referrals
Aging1/9/2013
Full Bill Text
No bill text available