S 8994 New York Senate · 2023 Regular Session

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

Summary
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 status in committee 1 of 4 stages cleared
Introduction
Apr 2024
Committee Review
Floor Vote
Governor
Introduced Apr 8, 2024 Last action May 7, 2024
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Full legislative history

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Total actions
2
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0
Committee
2
May 7, 2024
Senate · Referred to committee
REPORTED AND COMMITTED TO FINANCE
Apr 8, 2024
Senate · Referred to committee
REFERRED TO CITIES 1
1 primary · 4 co-sponsors

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