Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
May 29, 2024 |
referred to aging |
Senate Bill S9774
2023-2024 Legislative Session
Sponsored By
(D) 34th Senate District
Current Bill Status - In Senate Committee Aging Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
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- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2023-S9774 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10291
- Current Committee:
- Senate Aging
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §467-b, RPT L
2023-S9774 (ACTIVE) - Sponsor Memo
BILL NUMBER: S9774 SPONSOR: FERNANDEZ TITLE OF BILL: An act to amend the real property tax law, in relation to raising the income eligibility threshold for senior citizens and disabled residents PURPOSE OR GENERAL IDEA OF BILL: To raise the income eligibility threshold for the Senior Citizen Rent Increase Exemption (SCRIE) and Disability Rent Increase Exemption (DRIE) from $50,000 to $75,000. SUMMARY OF PROVISIONS: Section 1 amends the subdivision 3 of section 467-b of the Real Property Tax law, as amended by section 1 of Part U of Chapter 55 of the Laws of 2014 to raise the SCRIE income eligibility threshold from $50,000 to $75,000 starting on July 15t, 2024. Section 2 amends the subdivision 3 of section 467-b of the Real Property
2023-S9774 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9774 I N S E N A T E May 29, 2024 ___________ Introduced by Sen. FERNANDEZ -- read twice and ordered printed, and when printed to be committed to the Committee on Aging AN ACT to amend the real property tax law, in relation to raising the income eligibility threshold for senior citizens and disabled resi- dents THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph a of subdivision 3 of section 467-b of the real property tax law, as amended by section 1 of part U of chapter 55 of the laws of 2014, is amended to read as follows: a. for a dwelling unit where the head of the household is a person sixty-two years of age or older, no tax abatement shall be granted if the combined income of all members of the household for the income tax year immediately preceding the date of making application exceeds four thousand dollars, or such other sum not more than twenty-five thousand dollars beginning July first, two thousand five, twenty-six thousand dollars beginning July first, two thousand six, twenty-seven thousand dollars beginning July first, two thousand seven, twenty-eight thousand dollars beginning July first, two thousand eight, twenty-nine thousand dollars beginning July first, two thousand nine, [and] fifty thousand dollars beginning July first, two thousand fourteen, AND SEVENTY-FIVE THOUSAND DOLLARS BEGINNING JULY FIRST, TWO THOUSAND TWENTY-FOUR, as may be provided by the local law, ordinance or resolution adopted pursuant to this section, provided that when the head of the household retires before the commencement of such income tax year and the date of filing the application, the income for such year may be adjusted by excluding salary or earnings and projecting [his or her] SUCH INDIVIDUAL'S retire- ment income over the entire period of such year. § 2. Paragraph a of subdivision 3 of section 467-b of the real proper- ty tax law, as separately amended by chapters 188 and 205 of the laws of 2005, is amended to read as follows: a. for a dwelling unit where the head of the household is a person sixty-two years of age or older, no tax abatement shall be granted if the combined income of all members of the household for the income tax EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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