Increases allowable maximum income of persons occupying rental units otherwise eligible for tax abatement in certain cases

Title of bill

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

Purpose

To allow the locality to raise the income eligibility limits for the Senior Citizen Rent Increase Exemption (SCRIE) program to any amount up to $50,000.

Summary of provisions

Amends section 467-b of the real property tax law pertaining to SCRIE eligibility by increasing the combined household income limits that the local governing body may authorize from twenty seven thousand dollars to up to fifty thousand dollars.

Justification

SCRIE provides a vital service by allowing senior residents of New York to remain in their homes and communities by keeping their rent affordable. To be eligible for SCRIE one must be 62 or older, the head of a household, live in a rent controlled or rent stabilized apartment or rent regulated hotel unit and their household income may not exceed $50,000. Monthly rent must also exceed one third of monthly household income.

The cost of living in New York City makes it difficult for many seniors to make ends meet. Not only low income but also middle income seniors feel the burden of the escalating costs in rent. This bill would authorize the locality to increase the income eligibility level to any amount up to $50,000 and can therefore provide not only financial relief to a growing number of seniors but will also allow them to remain in their current residences.

Legislative history

2002: S.7211 2003-04: S.3094 2005-06: S.1459

Fiscal implications

None to the State; fiscal implications at local level determined by the amount of the increase to program.

Effective date

This act shall take effect on the thirtieth day after it shall have become a law.