Amd SS467-b, 467-c, 467 & 459-c, RPT L; amd Part U S4, Chap 55 of 2014
Increases allowable maximum income of persons occupying rental units otherwise eligible for tax abatement in certain cases under provisions applicable to senior citizens' rent increase exemption (SCRIE).
STATE OF NEW YORK
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4748--A
2015-2016 Regular Sessions
IN SENATE
April 15, 2015
___________
Introduced by Sen. SAVINO -- read twice and ordered printed, and when
printed to be committed to the Committee on Aging -- committee
discharged, bill amended, ordered reprinted as amended and recommitted
to said committee
AN ACT to amend the real property tax law, in relation to increasing the
allowable maximum income of persons occupying rental units otherwise
eligible for tax abatement in certain cases; and to amend section 4 of
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 of certain provisions thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph a of subdivision 3 of section 467-b of the real
2 property tax law, as amended by section 2 of chapter 188 of the laws of
3 2005, is amended to read as follows:
4 a. for a dwelling unit where the head of the household is a person
5 sixty-two years of age or older, no tax abatement shall be granted if
6 the combined income of all members of the household for the income tax
7 year immediately preceding the date of making application exceeds three
8 thousand dollars, or such other sum not more than five thousand dollars,
9 and fifty thousand dollars beginning July first, two thousand sixteen,
10 as may be provided by the local law, ordinance or resolution adopted
11 pursuant to this section, provided that when the head of the household
12 retires before the commencement of such year and the date of filing the
13 application, the income for such year may be adjusted by excluding sala-
14 ry or earnings and projecting his retirement income over the entire
15 period of such year.
16 § 2. Section 4 of part U of chapter 55 of the laws of 2014, amending
17 the real property tax law, relating to the tax abatement and exemption
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00705-07-5
S. 4748--A 2
1 for rent regulated and rent controlled property occupied by senior citi-
2 zens, is amended to read as follows:
3 § 4. This act shall take effect July 1, 2014[, and sections one and
4 two of this act shall expire and be deemed repealed 2 years after the
5 effective date thereof]; provided that the amendment to section 467-b of
6 the real property tax law made by section one of this act shall not
7 affect the expiration of such section and shall be deemed to expire
8 therewith.
9 § 3. Paragraph b of subdivision 3 of section 467-b of the real proper-
10 ty tax law, as amended by section 2 of chapter 188 of the laws of 2005,
11 is amended to read as follows:
12 b. for a dwelling unit where the head of the household qualifies as a
13 person with a disability pursuant to subdivision five of this section,
14 no tax abatement shall be granted if the combined income for all members
15 of the household for the current income tax year exceeds [the maximum
16 income at which such head of the household would not be eligible to
17 receive cash supplemental security income benefits under federal law
18 during such tax year] fifty thousand dollars beginning July first, two
19 thousand sixteen, as may be provided by the local law, ordinance or
20 resolution adopted pursuant to this section.
21 § 4. Paragraph m of subdivision 1 of section 467-c of the real proper-
22 ty tax law, as added by chapter 188 of the laws of 2005, is amended to
23 read as follows:
24 m. "Person with a disability" means an individual who is currently
25 receiving social security disability insurance (SSDI) or supplemental
26 security income (SSI) benefits under the federal social security act or
27 disability pension or disability compensation benefits provided by the
28 United States department of veterans affairs or those previously eligi-
29 ble by virtue of receiving disability benefits under the supplemental
30 security income program or the social security disability program and
31 currently receiving medical assistance benefits based on determination
32 of disability as provided in section three hundred sixty-six of the
33 social services law and whose income for the current income tax year,
34 together with the income of all members of such individual's household,
35 does not exceed [the maximum income at which such individual would be
36 eligible to receive cash supplemental security income benefits under
37 federal law during such tax year] fifty thousand dollars beginning July
38 first, two thousand sixteen, as may be provided by local law.
39 § 5. Paragraph (a) of subdivision 3 of section 467 of the real proper-
40 ty tax law, as amended by chapter 259 of the laws of 2009, is amended to
41 read as follows:
42 (a) if the income of the owner or the combined income of the owners of
43 the property for the income tax year immediately preceding the date of
44 making application for exemption exceeds the sum of three thousand
45 dollars, or such other sum not less than three thousand dollars nor more
46 than twenty-six thousand dollars beginning July first, two thousand six,
47 twenty-seven thousand dollars beginning July first, two thousand seven,
48 twenty-eight thousand dollars beginning July first, two thousand eight,
49 [and] twenty-nine thousand dollars beginning July first, two thousand
50 nine, and fifty thousand dollars beginning July first, two thousand
51 sixteen, as may be provided by the local law, ordinance or resolution
52 adopted pursuant to this section. Income tax year shall mean the twelve
53 month period for which the owner or owners filed a federal personal
54 income tax return, or if no such return is filed, the calendar year.
55 Where title is vested in either the husband or the wife, their combined
56 income may not exceed such sum, except where the husband or wife, or
S. 4748--A 3
1 ex-husband or ex-wife is absent from the property as provided in subpar-
2 agraph (ii) of paragraph (d) of this subdivision, then only the income
3 of the spouse or ex-spouse residing on the property shall be considered
4 and may not exceed such sum. Such income shall include social security
5 and retirement benefits, interest, dividends, total gain from the sale
6 or exchange of a capital asset which may be offset by a loss from the
7 sale or exchange of a capital asset in the same income tax year, net
8 rental income, salary or earnings, and net income from self-employment,
9 but shall not include a return of capital, gifts, inheritances, payments
10 made to individuals because of their status as victims of Nazi perse-
11 cution, as defined in P.L. 103-286 or monies earned through employment
12 in the federal foster grandparent program and any such income shall be
13 offset by all medical and prescription drug expenses actually paid which
14 were not reimbursed or paid for by insurance, if the governing board of
15 a municipality, after a public hearing, adopts a local law, ordinance or
16 resolution providing therefor. Furthermore, such income shall not
17 include the proceeds of a reverse mortgage, as authorized by section
18 six-h of the banking law, and sections two hundred eighty and two
19 hundred eighty-a of the real property law; provided, however, that
20 monies used to repay a reverse mortgage may not be deducted from income,
21 and provided additionally that any interest or dividends realized from
22 the investment of reverse mortgage proceeds shall be considered income.
23 The provisions of this paragraph notwithstanding, such income shall not
24 include veterans disability compensation, as defined in Title 38 of the
25 United States Code provided the governing board of such municipality,
26 after public hearing, adopts a local law, ordinance or resolution
27 providing therefor. In computing net rental income and net income from
28 self-employment no depreciation deduction shall be allowed for the
29 exhaustion, wear and tear of real or personal property held for the
30 production of income;
31 § 6. Paragraph (a) of subdivision 5 of section 459-c of the real prop-
32 erty tax law, as separately amended by chapters 187 and 252 of the laws
33 of 2006, is amended to read as follows:
34 (a) if the income of the owner or the combined income of the owners of
35 the property for the income tax year immediately preceding the date of
36 making application for exemption exceeds the sum of three thousand
37 dollars, or such other sum not less than three thousand dollars nor more
38 than twenty-six thousand dollars beginning July first, two thousand six,
39 twenty-seven thousand dollars beginning July first, two thousand seven,
40 twenty-eight thousand dollars beginning July first, two thousand eight,
41 [and] twenty-nine thousand dollars beginning July first, two thousand
42 nine, and fifty thousand dollars beginning July first, two thousand
43 sixteen, as may be provided by the local law or resolution adopted
44 pursuant to this section. Income tax year shall mean the twelve month
45 period for which the owner or owners filed a federal personal income tax
46 return, or if no such return is filed, the calendar year. Where title is
47 vested in either the husband or the wife, their combined income may not
48 exceed such sum, except where the husband or wife, or ex-husband or
49 ex-wife is absent from the property due to divorce, legal separation or
50 abandonment, then only the income of the spouse or ex-spouse residing on
51 the property shall be considered and may not exceed such sum. Such
52 income shall include social security and retirement benefits, interest,
53 dividends, total gain from the sale or exchange of a capital asset which
54 may be offset by a loss from the sale or exchange of a capital asset in
55 the same income tax year, net rental income, salary or earnings, and net
56 income from self-employment, but shall not include a return of capital,
S. 4748--A 4
1 gifts, inheritances or monies earned through employment in the federal
2 foster grandparent program and any such income shall be offset by all
3 medical and prescription drug expenses actually paid which were not
4 reimbursed or paid for by insurance, if the governing board of a munici-
5 pality, after a public hearing, adopts a local law or resolution provid-
6 ing therefor. In computing net rental income and net income from self-
7 employment no depreciation deduction shall be allowed for the
8 exhaustion, wear and tear of real or personal property held for the
9 production of income;
10 § 7. This act shall take effect immediately; provided that:
11 a. the amendments to subdivision 3 of section 467-b of the real prop-
12 erty tax law made by sections one and three of this act shall take
13 effect on the same date as the reversion of such section pursuant to
14 section 17 of chapter 576 of the laws of 1974, as amended; and
15 b. the amendments to paragraph m of subdivision 1 of section 467-c of
16 the real property tax law, made by section four of this act shall take
17 effect on the same date as the reversion of such paragraph as provided
18 in section four of chapter 129 of the laws of 2014, as amended.
