New York S 5548: Relates to redetermination of a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities

Bill Text

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S05548 Summary:

BILL NOS05548 

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SAME ASSAME AS A04332

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SPONSORCLEARE

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COSPNSR

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MLTSPNSR

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Amd §467-b, RPT L; amd §26-605, NYC Ad Cd

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Permits a redetermination of a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities upon a permanent decrease in income.

Go to top S05548 Actions:

BILL NOS05548 

&nbsp

02/24/2025REFERRED TO AGING

04/29/2025REPORTED AND COMMITTED TO FINANCE

01/07/2026REFERRED TO AGING

Go to topS05548 Committee&nbspVotes:

Go to topS05548 Floor&nbspVotes:

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

Go to topS05548 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5548

 2025-2026 Regular Sessions

 IN SENATE

 February 24, 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 and the administrative code of
 the city of New York, in relation to redetermination based on income
 for a 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. Paragraph g of subdivision 3 of section 467-b of the real
 2 property tax law, as amended by chapter 553 of the laws of 2015, is
 3 amended to read as follows:
 4 g. notwithstanding any other provision of law to the contrary, where a
 5 head of the household holds a current, valid tax abatement certificate
 6 and, after the effective date of this paragraph, there is a permanent
 7 decrease in the combined income of all members of the household [in an
 8 amount which exceeds twenty percent of such income as represented in
 9 such head of the household's last approved application for a tax abate-
 10 ment certificate or for renewal thereof], such head of the household may
 11 apply for a redetermination of the amount set forth therein. Upon appli-
 12 cation, such amount shall be redetermined so as to re-establish the
 13 ratio of adjusted rent to income which existed at the time of approval
 14 of such head of the household's last application for a tax abatement
 15 certificate or for renewal thereof; provided, however, that in no event
 16 shall the amount of the adjusted rent be redetermined to be (i) in the
 17 case of a head of the household who does not receive a monthly allowance
 18 for shelter pursuant to the social services law, less than one-third of
 19 the combined income of all members of the household unless such head of
 20 the household has been granted a rent increase exemption order that is
 21 in effect as of January first, two thousand fifteen or takes effect on
 22 or before July first, two thousand fifteen; or (ii) in the case of a
 23 head of the household who receives a monthly allowance for shelter

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08265-01-5

 S. 5548 2

 1 pursuant to the social services law, less than the maximum allowance for
 2 shelter which such head of the household is entitled to receive pursuant
 3 to such law. For purposes of this paragraph, a decrease in the combined
 4 income of all members of the household shall not include any decrease in
 5 such income resulting from the manner in which income is calculated
 6 pursuant to any amendment to paragraph c of subdivision one of this
 7 section made on or after April first, nineteen hundred eighty-seven. For
 8 purposes of this paragraph, "adjusted rent" shall mean maximum rent or
 9 legal regulated rent less the amount set forth in a tax abatement
 10 certificate.
 11 § 2. Subparagraph 2 of paragraph a of subdivision 4 of section 467-b
 12 of the real property tax law is renumbered subparagraph 3 and a new
 13 subparagraph 2 is added to read as follows:
 14 (2) Notwithstanding any other provision of law to the contrary, a head
 15 of household to whom a rent increase exemption order/tax abatement
 16 certificate has previously been issued under this section who has
 17 submitted a renewal application pursuant to subparagraph one of this
 18 paragraph where there is