Relates to increasing the combined household income limit for eligibility for a senior citizen rent increase exemption (SCRIE)

BILL NUMBER:S7444

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, increasing the combined household income limit for eligibility for a senior citizen rent increase exemption (SCRIE)

Purpose or general idea of bill

To increase the household income limit for eligibility for a senior citizen rent increase exemption

Summary of specific provisions

Amends paragraph a of subdivision 3 of section 467-b of the Real Property Tax Law to increase the threshold of receiving a tax abatement to $30,000 for dwelling units where the head of household is a person 62 years of age or older with no residing spouse, and to include a threshold of $55,000 for such dwelling units with a residing spouse.

Existing law

Real Property Tax Law, § 467-b 3(a)

Justification

SCRIE is an extremely important benefit for seniors living on fixed incomes. When living on a fixed income, seniors are forced to spend a greater proportion of their income on medical expenses leaving less for other necessities.

Currently, senior citizens can only participate in the SCRIE program, which freezes their rents, if they earn $29,000 or less annually. An increase in income eligibility for the SCRIE program would provide relief to many seniors, helping them remain in their homes during these difficult times.

Prior legislative history

New bill.

Fiscal implications

To be determined.

Effective date

Immediately.