Amd Part U §4, Chap 55 of 2014; amd §4, Chap 129 of 2014
Extends the effectiveness of certain provisions dealing with tax exemptions for rent regulated properties occupied by senior citizens and persons with disabilities.
STATE OF NEW YORK
________________________________________________________________________
5547
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 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 citi-
zens, 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 property occupied by persons with disabilities, in relation
to the effectiveness thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 4 of part U of chapter 55 of the laws of 2014,
2 amending the real property tax law relating to the tax abatement and
3 exemption for rent regulated and rent controlled property occupied by
4 senior citizens, as amended by chapter 144 of the laws of 2024, is
5 amended to read as follows:
6 § 4. This act shall take effect July 1, 2014, and sections one and two
7 of this act shall expire and be deemed repealed June 30, [2026] 2028;
8 provided that the amendment to section 467-b of the real property tax
9 law made by section one of this act shall not affect the expiration of
10 such section and shall be deemed to expire therewith.
11 § 2. Section 4 of chapter 129 of the laws of 2014, amending the real
12 property tax law relating to the tax abatement and exemption for rent
13 regulated and rent controlled property occupied by persons with disabil-
14 ities, as amended by chapter 144 of the laws of 2024, is amended to read
15 as follows:
16 § 4. This act shall take effect July 1, 2014 provided, however, that:
17 (a) the amendments to paragraph b of subdivision 3 of section 467-b of
18 the real property tax law made by section one of this act shall be
19 subject to the expiration and reversion of such subdivision pursuant to
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08256-01-5
S. 5547 2
1 section 17 of chapter 576 of the laws of 1974, as amended, when upon
2 such date the provisions of section two of this act shall take effect;
3 and
4 (b) nothing contained in this act shall be construed so as to extend
5 the provisions of this act beyond June 30, [2026] 2028, when upon such
6 date this act shall expire and the provisions contained in this act
7 shall be deemed repealed.
8 § 3. This act shall take effect immediately.
