S 8994

  • New York Senate Bill
  • 2023 Regular Session
  • Introduced in Senate
  • Senate
  • Assembly
  • Governor

Grants real property tax abatement to rent-controlled or rent regulated properties when the maximum authorized rent exceeds 1/2 of the tenants' household income

Abstract

Authorizes application of the property tax abatement for rent-controlled or rent regulated properties occupied by senior citizens or disabled persons, to those units occupied by tenants paying the maximum allowable rent when such rent exceeds 1/2 of the household income; provides for state payments to cities affected thereby equal to 10% of lost real property tax revenue.

Bill Sponsors (5)

Votes


Actions


May 07, 2024

Senate

REPORTED AND COMMITTED TO FINANCE

Apr 08, 2024

Senate

REFERRED TO CITIES 1

Bill Text

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