Bill > S01457

This bill proposes to increase the maximum income threshold for eligibility for several tax exemption programs: the Senior Citizen Rent Increase Exemption (SCRIE), Disability Rent Increase Exemption (DRIE), Senior Citizen Homeowners' Exemption (SCHE), and Disabled Homeowners' Exemption (DHE). Currently, these programs have fixed income limits, but this bill mandates that these limits be automatically adjusted each year based on any increase in the Consumer Price Index (CPI), which measures inflation. The CPI is a widely used economic indicator that tracks the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. This adjustment aims to ensure that the income thresholds keep pace with the rising cost of living, preventing individuals who qualify for these exemptions from being priced out due to inflation. The bill specifies which CPI measures to use depending on the location within New York State, including a regional CPI for New York City and surrounding counties, and a broader Northeast Region CPI for other areas.

Budget and Finance, Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/S1457