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

Latest action Jan 7, 2026

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.

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Where it stands

Out of committee and scheduled for a vote by the full chamber.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A1877, the matching bill in the Assembly.

Amends the Real Property Tax Law.

Committee

Aging · New York State Assembly

Also referred to Aging · New York State Senate, Cities 1 · New York State Senate.

Purpose, from the sponsor's memo

To authorize the City of New York to institute a tenant rent increase exemption program (TRIE), for tenants who pay over 50% of their income in rent and who reside within rent controlled, rent regulated, and with- in certain other types of housing incorporated under the private housing finance law. This bill aims to support and work in conjunction with current and future rent regulations enacted by the state legislature.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Committee vote · Cities 1
Senate Cities 1Feb 25, 2025Result: passed
(7) (0) (0) (0)

Cosponsors

Jessica Ramos, Karines Reyes and 4 more on Agora

Democratic6

See the full list on nysenate.gov

The sponsor's argument

Why Nathalia Fernandez says this is needed

This bill expands upon the very successful New York City senior citizen rent increase exemption (SCRIE) and the disability rent increase exemption (DRIE). This program is otherwise known as the NYC Rent Freeze Program, and is administered by the NYC Department of Finance pursuant to state enabling legislation. The existing SCRIE and DRIE programs provide that seniors and disabled individuals residing in rent controlled, rent stabilized, and certain other limited profit housing pay no more than 30% of their income for rent. This program helps eligible seniors (age 62 and over) and tenants with qualifying disabili- ties stay in affordable housing by freezing their rent. The program protects eligible tenants from future rent increases while providing property owners with tax abatements equal to the dollar value of the rent increases they are entitled to. The tenant increase exemption (TRIE) program would operate under the same general administrative parameters as the existing SCRIE and DRIE programs, with the state providing 10% of the cost of the revenue loss of the tax abatement to New York City. TRIE would provide housing assistance to low-income individuals and heads of households who pay over 50% of their income in rent. This program provides relief to those individuals who need support without harming homeowners and landlords.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

Jan 7, 2026
Referred to committee
REFERRED TO AGING
NY Assembly
Jan 7, 2026
Referred to committee
REFERRED TO CITIES 1
NY Senate
Feb 25, 2025
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 14, 2025
Referred to committee
REFERRED TO AGING
NY Assembly
Jan 14, 2025
Referred to committee
REFERRED TO CITIES 1
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 31, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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