Bill > A05598

This bill extends the effectiveness of two existing tax exemption provisions for rent-regulated properties occupied by senior citizens and persons with disabilities from June 30, 2026, to June 30, 2028. Specifically, the bill modifies two previous laws that provide tax abatements and exemptions for rent-regulated and rent-controlled properties. These exemptions allow qualifying senior citizens and individuals with disabilities to receive reduced property tax assessments on their rental properties. The amendments simply change the expiration date of these tax benefit provisions by two years, ensuring that eligible tenants can continue to receive these financial protections. The bill will take effect immediately upon passage, and the changes will maintain the current tax relief structure while giving lawmakers additional time to further evaluate or potentially extend these housing support mechanisms.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/A5598