Bill Text: NY S04748 | 2015-2016 | General Assembly | Amended


Bill Title: 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).

Spectrum: Strong Partisan Bill (Democrat 12-1)

Status: (Engrossed - Dead) 2016-06-06 - referred to aging [S04748 Detail]

Download: New_York-2015-S04748-Amended.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        4748--A
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                    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    S 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    S  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    S 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    S 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    S 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    S 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    S 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.
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