NY S03478

Establishes a senior citizen water rate freeze exempting qualified homeowners from future water rate increases in New York City.

Defines "qualified homeowner" as a person age 65 or older who owns a one to four family home as their primary residence and had household income below $50,000 for two consecutive tax years beginning in 2019.

Exempts qualifying properties from all charges resulting from water rate increases that occur after the homeowner becomes eligible.

Allows the Commissioner of Environmental Protection to suspend the exemption for up to one calendar year during droughts or disasters that cause actual water shortages.

Takes effect July 1, 2025; exemption does not preclude eligibility for other exemptions or credits.