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NY S02363
Bill
Status
1/24/2019
Primary Sponsor
Brian Kavanagh
Click for details
AI Summary
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Establishes automatic annual adjustments to income eligibility thresholds for SCRIE, DRIE, SCHE, and DHE programs, effective January 1st each year based on regional consumer price index (CPI-U) increases for the NY-Northeastern NJ area.
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Updates maximum income limits for senior citizens (age 62+) in SCRIE from $50,000 to an amount adjusted annually by the commissioner of the division of housing and community renewal.
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Updates maximum income limits for individuals with disabilities in DRIE from $50,000 to an amount adjusted annually by the commissioner.
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Applies the same annual CPI adjustment mechanism to SCHE (senior citizen homeowners' exemption) and DHE (disabled homeowners' exemption) programs, beginning with current thresholds of $50,000 in cities with populations over one million.
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All amendments expire upon the expiration of their underlying statutory authorizations (2014 laws and chapter 576 of 1974).
Legislative Description
Provides for annual adjustment of the maximum income threshold for eligibility for the senior citizens' rent increase exemption (SCRIE), disability rent increase exemption (DRIE), senior citizen homeowners' exemption (SCHE), and disabled homeowners' exemption (DHE) by any increase in the consumer price index (CPI).
Last Action
REFERRED TO AGING
1/8/2020