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NY A10414
Bill
Status
5/13/2022
Primary Sponsor
Yuh-line Niou
Click for details
AI Summary
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Part A: Expands SCRIE (Senior Citizen Rent Increase Exemption) and DRIE (Disabled Rent Increase Exemption) eligibility to include tenants with subleases with the Battery Park City Authority and allows municipalities to provide tax exemptions or PILOT (payments in lieu of taxes) abatements to landlords who grant rent increases exemptions to eligible tenants.
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Part B: Amends senior citizen homeowners' exemption (SCHE) and disabled homeowners' exemption (DHE) provisions to extend eligibility to property owners in Battery Park City, allowing exemptions from PILOT payments to the Battery Park City Authority in addition to municipal taxation, with the same income limits and eligibility requirements as other properties.
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Part C: Directs the Battery Park City Authority to extend its lease with the City of New York (originally dated November 24, 1969) until June 18, 2119, within six months of the act's effective date.
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All three parts take effect immediately upon enactment.
Legislative Description
Relates to enacting legislation related to Battery Park city; relates to authorizing eligibility for SCRIE and DRIE for tenants of properties located in Battery Park city (Part A); relates to authorizing eligibility for the senior citizen homeowners' exemption (SCHE) and the disabled homeowners' exemption (DHE) for property in Battery Park city (Part B); directs the battery park city authority to extend its lease with the city of New York until June 18, 2119 (Part C).
Last Action
substituted by s9032b
6/3/2022