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NY S01457
Bill
Status
6/12/2025
Primary Sponsor
Brian Kavanagh
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AI Summary
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Increases the combined household income limit for SCRIE, DRIE, SCHE, and DHE programs from $50,000 to $67,000 beginning July 1, 2025
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Requires the Commissioner of the Division of Housing and Community Renewal to automatically adjust the maximum income threshold annually based on Consumer Price Index (CPI) increases, with adjustments published by July 1st each year
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Applies the New York-Newark-Jersey City CPI-U for New York City and municipalities in Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk, and Westchester counties, while other municipalities use the Northeast Region CPI
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Removes the June 30, 2026 expiration date for the SCRIE and DRIE programs, making the income thresholds and CPI adjustments permanent
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Applies to both renters (senior citizens 62+ and persons with disabilities in rent-regulated housing) and homeowners eligible for senior citizen and disabled homeowners' property tax exemptions
Legislative Description
Provides for adjustment of the maximum income threshold for eligibility for the senior citizen rent increase exemption (SCRIE), disability rent increase exemption (DRIE), senior citizen homeowners' exemption (SCHE), and disabled homeowners' exemption (DHE) by any increase in the consumer price index (CPI).
Last Action
REPORTED AND COMMITTED TO FINANCE
2/4/2026