NY S05558

Authorizes municipal corporations and school districts in counties with populations between 1.49 million and 1.5 million to establish senior citizen tax exemption programs for residents age 65+ living in manufactured homes on rented land, subject to income limits under Real Property Tax Law Section 425.

Exemption amount equals a proportional share of annual tax increases on the manufactured home park's buildings and common areas, calculated by multiplying the percentage of qualifying homes to total park lots by the overall annual tax increase.

Requires eligible seniors to apply annually to the local assessor and obtain a signed accessory agreement from their park landlord, who must reduce the tenant's monthly rent by one-twelfth of the annual exemption and reimburse pro-rated amounts if the tenant vacates.

Imposes a fine of up to $100 and disqualifies applicants for five years if they make willful false statements on exemption applications.

Provides state reimbursement to municipalities and school districts that adopt the program to cover administrative costs, effective January 1, 2016.