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NY S00707

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 law Section 467-b to include increases in public or private pension benefits received by household members
  • Removes the limitation that excluded pension increases exceeding the consumer price index from the income definition
  • Expands income eligibility calculations for senior citizens and persons with disabilities living in rent-controlled or rent-regulated properties by counting all pension benefit increases as non-countable income
  • Takes effect immediately upon enactment

Legislative Description

Relates to pension income and 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