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NY S06470
Bill
Status
3/14/2025
Primary Sponsor
Cordell Cleare
Click for details
AI Summary
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Allows senior citizens and persons with disabilities to apply for redetermination of their rent tax abatement when their household income increases by more than 20%, not just when income decreases
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Authorizes the city rent agency to initiate redetermination of tax abatement amounts, in addition to tenant applications
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Removes outdated language referencing "the effective date of this paragraph" from the existing statute
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Maintains existing protections that adjusted rent cannot be less than one-third of combined household income for most recipients, with exceptions for those receiving shelter allowances under social services law
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Takes effect immediately upon enactment
Legislative Description
Relates to redetermination based on increases in income for a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities.
Last Action
REFERRED TO AGING
1/7/2026