S 6470: Relates to redetermination based on increases in income for a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities.

  
  STATE OF NEW YORK ________________________________________________________________________ 6470 2025-2026 Regular Sessions  IN SENATE March 14, 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 the real property tax law, in relation to redetermi- nation based on income for a tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Paragraph g of subdivision 3 of section 467-b of the real 2 property tax law, as amended by chapter 553 of the laws of 2015, is 3 amended to read as follows: 4 g. notwithstanding any other provision of law to the contrary, where a 5 head of the household holds a current, valid tax abatement certificate 6 and[, after the effective date of this paragraph,] there is a permanent 7 increase or decrease in the combined income of all members of the house- 8 hold in an amount which exceeds twenty percent of such income as repres- 9 ented in such head of the household's last approved application for a 10 tax abatement certificate or for renewal thereof, such head of the 11 household may apply for a redetermination of the amount set forth there- 12 in. Such determination may also be undertaken by the city rent agency. 13 Upon [application] redetermination, such amount shall be redetermined so 14 as to re-establish the ratio of adjusted rent to income which existed at 15 the time of approval of such head of the household's last application 16 for a tax abatement certificate or for renewal thereof; provided, howev- 17 er, that in no event shall the amount of the adjusted rent be redeter- 18 mined to be (i) in the case of a head of the household who does not 19 receive a monthly allowance for shelter pursuant to the social services 20 law, less than one-third of the combined income of all members of the 21 household unless such head of the household has been granted a rent 22 increase exemption order that is in effect as of January first, two 23 thousand fifteen or takes effect on or before July first, two thousand EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05170-01-5 
 S. 6470 2 1 fifteen; or (ii) in the case of a head of the household who receives a 2 monthly allowance for shelter pursuant to the social services law, less 3 than the maximum allowance for shelter which such head of the household 4 is entitled to receive pursuant to such law. For purposes of this para- 5 graph, a decrease in the combined income of all members of the household 6 shall not include any decrease in such income resulting from the manner 7 in which income is calculated pursuant to any amendment to paragraph c 8 of subdivision one of this section made on or after April first, nine- 9 teen hundred eighty-seven. For purposes of this paragraph, "adjusted 10 rent" shall mean maximum rent or legal regulated rent less the amount 11 set forth in a tax abatement certificate. 12 § 2. This act shall take effect immediately.