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NY S00717
Bill
Status
3/28/2023
Primary Sponsor
Cordell Cleare
Click for details
AI Summary
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Amends the definition of "income" under Real Property Tax Law sections 467-b and 467-c to allow deduction of unreimbursed medical and prescription drug expenses from income calculations for senior citizens in rent-controlled and rent-regulated properties.
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Permits municipalities to adopt a local law, ordinance, or resolution after a public hearing to allow the medical and prescription drug expense offset for eligible applicants.
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Applies the deduction only to medical and prescription drug expenses that were actually paid and not reimbursed or covered by insurance.
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Takes effect immediately upon enactment.
Legislative Description
Excludes expenditures for medical care not covered by insurance from the definition of "income" for the purpose of a real property tax abatement for rent-controlled and rent regulated property occupied by senior citizens.
Last Action
referred to aging
2/28/2024