New York A 5344: Provides for release of subcontractor's retainage held by a public owner or contractor sixty days after substantial completion of work

Bill Text

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A05344 Summary:

BILL NOA05344A

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SAME ASSAME AS S01457-B

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SPONSORGlick

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COSPNSRBurroughs, Seawright, Griffin, Lasher, Pheffer Amato, Simone, Carroll R, Lee, Raga, Simon, Cruz,
 Gonzalez-Rojas, Kelles, Levenberg

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MLTSPNSR

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Amd §§467-b, 467-c, 467 & 459-c, RPT L; amd Part U §4, Chap 55 of 2014; amd §4, Chap 129 of 2014

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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).

Go to top A05344 Actions:

BILL NOA05344A

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02/13/2025referred to aging

01/07/2026referred to aging

01/15/2026amend and recommit to aging

01/15/2026print number 5344a

Go to topA05344 Committee&nbspVotes:

Go to topA05344 Floor&nbspVotes:

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

Go to topA05344 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5344--A

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 13, 2025
 ___________

 Introduced by M. of A. GLICK, BURROUGHS, SEAWRIGHT, GRIFFIN, LASHER,
 PHEFFER AMATO, SIMONE, R. CARROLL -- read once and referred to the
 Committee on Aging -- recommitted to the Committee on Aging in accord-
 ance with Assembly Rule 3, sec. 2 -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said commit-
 tee

 AN ACT to amend the real property tax law, in relation to increasing the
 combined household income limit for eligibility for a senior citizen
 rent increase exemption (SCRIE), disability rent increase exemption
 (DRIE), senior citizen homeowners' exemption (SCHE), and disabled
 homeowners' exemption (DHE) on the basis of the consumer price index;
 to amend part U of chapter 55 of the laws of 2014, amending the real
 property tax law relating to the tax abatement and exemption for rent
 regulated and rent controlled property occupied by senior citizens, in
 relation to the effectiveness thereof; and to amend chapter 129 of the
 laws of 2014, amending the real property tax law relating to the tax
 abatement and exemption for rent regulated and rent controlled proper-
 ty occupied by persons with disabilities, in relation to the effec-
 tiveness thereof

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

 1 Section 1. Paragraphs a and b of subdivision 3 of section 467-b of the
 2 real property tax law, paragraph a as amended by section 1 of part U of
 3 chapter 55 of the laws of 2014 and paragraph b as amended by chapter 129
 4 of the laws of 2014, are amended to read as follows:
 5 a. for a dwelling unit where the head of the household is a person
 6 sixty-two years of age or older, no tax abatement shall be granted if
 7 the combined income of all members of the household for the income tax
 8 year immediately preceding the date of making application exceeds four
 9 thousand dollars, or such other sum not more than twenty-five thousand
 10 dollars beginning July first, two thousand five, twenty-six thousand

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04145-09-6

 A. 5344--A 2

 1 dollars beginning July first, two thousand six, twenty-seven thousand
 2 dollars beginning July first, two thousand seven, twenty-eight thousand
 3 dollars beginning July first, two thousand eight, twenty-nine thousand
 4 dollars beginning July first, two thousand nine, [and] fifty thousand
 5 dollars beginning July first, two thousand fourteen, and seventy-five
 6 thousand dollars beginning July first, two thousand twenty-six, as may
 7 be provided by the local law, ordinance or resolution adopted pursuant
 8 to this section, provided that when the head of the household retires
 9 before the commencement of such income tax year and the date of filing
 10 the application, the income for such year may be adjusted by excluding
 11 salary or earnings and projecting [his or her] such head of household's
 12 retirement income over the entire period of such year. The maximum
 13 income threshold provided for herein shall be increased by order of the
 1