A03073 Summary:

BILL NO    A03073 

SAME AS    Same as S 1382

SPONSOR    Clark

COSPNSR    

MLTSPNSR   

Amd S467-b, RPT L

Provides that the tax abatements for certain rent-controlled and rent-regulated
property occupied by senior citizens commonly known as the senior citizens'
rent increase exemption (SCRIE) shall be applicable where the rent constitutes
more than one-fourth rather than one-third of the tenant's income.

A03073 Actions:

BILL NO    A03073 

01/22/2009 referred to aging
01/06/2010 referred to aging

A03073 Votes:

A03073 Memo:

 BILL NUMBER:  A3073

 TITLE OF BILL :  An act to amend the real property tax law, in
relation to the income level for the applicability of the senior
citizens' rent increase exemption

 PURPOSE OR GENERAL IDEA OF BILL : Reduces from one-third to
one-fourth of income the applicability of the senior citizens' rent
increase exemption.

 SUMMARY OF SPECIFIC PROVISIONS :  One of the criteria that must be
met to be eligible for the senior citizens' rent increase exemption
(SCRIE) is household income. At least one-third of a senior's income
must be used for rent in order to be eligible for SCRIE. This
criterion would be lowered to include seniors who pay at least
one-fourth of their income for rent.

 JUSTIFICATION :  SCRIE was established in 1979 to allow senior
citizens and exemption from rent increases if specific criteria are
met. They must reside in rent controlled, rent stabilized, or
Mitchell-Lama housing, be at least 62 years of age, have household
incomes of no more than $20,000 and pay at least one-third of their
income for rent. The problem lies in the requirement that one-third of
household income be used for rent. Many seniors do not meet that
requirement and are subject to high rents and rent increases. This
bill will lower the requirement to one-fourth of household income and
allow more seniors to become eligible for SCRIE.

 PRIOR LEGISLATIVE HISTORY :  2005-06 - A.1712/S.929, referred to
Assembly/Senate Aging 1/3/07 - Uni A.825/S.445 (Stavisky), referred to
Assembly/Senate Aging 1/9/08 - Uni A.825/S.445 (Stavisky), referred to
Assembly/Senate Aging

 FISCAL IMPLICATIONS : To be determined.

 EFFECTIVE DATE : This act shall take effect immediately; provided
that the amendments made to section 467-b of the real property .ax law
by section 1 of this act shall not affect the expiration of such
section and shall expire therewith.