BILL NUMBER: S6906B
SPONSOR: CLEARE
 
TITLE OF BILL:
An act to amend the real property tax law, in relation to information to
be provided with all new and renewal leases for certain housing accommo-
dations
 
PURPOSE:
This legislation will ensure tenants receive information regarding the
Senior Citizen Rent Increase Exemption (SCRIE) and Disability Rent
Increase Exemption (DRIB) programs.
 
SUMMARY OF SPECIFIC PROVISIONS:
Section one amends subparagraph 2 of paragraph i of subdivision 3 of
section 467-b of the real property tax law.
Section two establishes an effective date.
 
JUSTIFICATION:
The New York City Department of Finance's (DOF) SCRIE and DRIE programs
exempt eligible seniors and people with disabilities living in rent-re-
gulated apartments and certain Mitchell-Lama developments from future
rent increases. The program caps tenants' rent at one third of a
tenant's monthly income or the rental amount from their previous lease.
Landlords receive a credit on their property tax bill from the City for
the difference between the, legal and frozen rent. As the cost of
living continues to rise, these programs provide critical assistance to
tenants. According to a recent report by the DOF, the estimated number
of households eligible for SCRIE or DRIE has increased over the years,
yet, more than 40 percent of eligible tenants are not enrolled in the
program. Requiring information about the program to be included on every
more frequently will alert more people about the existence of the
program.
 
LEGISLATIVE HISTORY:
New bill.
 
FISCAL IMPLICATIONS:
Undetermined
 
EFFECTIVE DATE:
This act shall take effect on the one hundred twentieth day after it
shall become law.