New York S 6473: Relates to pension income and tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities

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S06473 Summary:

BILL NOS06473 

&nbsp

SAME ASSAME AS A02082

&nbsp

SPONSORCLEARE

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §467-b, RPT L

&nbsp

Relates to pension income and tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities.

Go to top S06473 Actions:

BILL NOS06473 

&nbsp

03/14/2025REFERRED TO AGING

01/07/2026REFERRED TO AGING

Go to topS06473 Committee&nbspVotes:

Go to topS06473 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS06473 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6473

 2025-2026 Regular Sessions

 IN SENATE

 March 14, 2025
 ___________

 Introduced by Sen. CLEARE -- 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 pension income
 and tax abatement for rent-controlled and rent regulated property
 occupied by senior citizens or persons with disabilities

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Clause (B) of subparagraph (ii) of paragraph c of subdivi-
 2 sion 1 of section 467-b of the real property tax law, as amended by
 3 chapter 276 of the laws of 2023, is amended to read as follows:
 4 (B) provided, however, that income may be calculated as the income
 5 from all sources after deduction of all income and social security taxes
 6 and includes social security and retirement benefits, supplemental secu-
 7 rity income and additional state payments, public assistance benefits,
 8 interest, dividends, net rental income, salary or earnings, and net
 9 income from self-employment, but shall not include gifts or inheritanc-
 10 es, payments made to individuals because of their status as victims of
 11 Nazi persecution, as defined in federal P.L. 103-286, or increases in
 12 benefits accorded pursuant to the social security act or a public or
 13 private pension paid to any member of the household [which increase, in
 14 any given year, does not exceed the consumer price index (all items
 15 United States city average)] for such year which take effect after the
 16 date of eligibility of head of the household receiving benefits here-
 17 under whether received by the head of the household or any other member
 18 of the household, when the following conditions are met:
 19 (1) a rent increase exemption order was granted to the head of house-
 20 hold prior to July first, two thousand twenty-four;
 21 (2) such rent increase exemption order is either renewed after each
 22 benefit period or granted pursuant to paragraph (d) of subdivision two
 23 of this section to account for a temporary increase in income;
 24 (3) income calculated as described in this subparagraph would yield a
 25 lower amount than income calculated as described in subparagraph (i) of
 26 this paragraph; and
 27 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05818-01-5

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