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NY S00705

Bill

Official Source

Status

Introduced

1/6/2023

Primary Sponsor

Cordell Cleare

Click for details

Origin

Senate

2023-2024 General Assembly

AI Summary

  • Amends the definition of "income" under real property tax abatement law for rent-controlled and rent-regulated properties occupied by senior citizens or persons with disabilities

  • Adds union dues and court-ordered support payments as deductible items from income calculations for tax abatement purposes

  • Expands income definition to explicitly include business earnings or losses and net capital gains or losses

  • Takes effect immediately upon enactment

Legislative Description

Relates to the definition of income for tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities.

Last Action

REFERRED TO AGING

1/3/2024

Committee Referrals

Aging1/6/2023

Full Bill Text

No bill text available