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Bill

Bill

A 2082

Relates to pension income and tax abatement for rent-controlled and rent regulated property occupied by senior citizens or persons with disabilities

2025 Regular Session Introduced by Linda Rosenthal

Bill A 2082 offers tax relief on pension income and enhances tax abatements for senior citizens and disabled individuals in rent-controlled housing, boosting their financial stability.

REFERRED TO AGING
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Bill Summary · A 2082

Summary of Bill A 2082

Bill Number: A 2082
Title: Relates to pension income and tax abatement for rent-controlled and rent-regulated property occupied by senior citizens or persons with disabilities
Status: Referred to Aging
Introduced: January 15, 2025
Classification: Bill

Purpose and Intent

Bill A 2082 aims to provide financial relief to senior citizens and persons with disabilities who reside in rent-controlled and rent-regulated properties. The legislation seeks to address the economic challenges faced by these vulnerable populations by modifying how pension income is treated for tax purposes and enhancing tax abatement opportunities.

Key Provisions

  1. Pension Income Exemption:

    • The bill proposes to exempt a certain amount of pension income from state income tax for senior citizens and persons with disabilities. This exemption is intended to increase disposable income for these individuals, thereby improving their financial stability.

  2. Tax Abatement Enhancements:

    • The legislation includes provisions for enhanced tax abatements for rent-controlled and rent-regulated properties occupied by eligible individuals. This could result in reduced property taxes for landlords, which may help keep rental costs manageable for tenants.

  3. Eligibility Criteria:

    • To qualify for the benefits outlined in the bill, individuals must meet specific age and disability criteria. The bill will define these criteria to ensure that assistance is targeted effectively.

Impact

  • Target Population:

    • The primary beneficiaries of Bill A 2082 are senior citizens and persons with disabilities living in rent-controlled and rent-regulated housing. By alleviating some financial burdens, the bill aims to enhance their quality of life.

  • Landlords and Property Owners:

    • The bill may also impact landlords and property owners by providing them with tax relief, potentially encouraging them to maintain or improve their properties, which could benefit tenants.

Procedural Aspects

  • Current Status:

    • As of January 15, 2025, the bill has been referred to the Aging Committee for further consideration. This referral indicates that the bill will undergo review and discussion before any potential voting or amendments.

  • Related Legislation:

    • Bill A 2082 is part of a broader legislative context, with several related bills from prior sessions, including A 861, A 8642, A 4774, A 1312, A 3206, A 1079, and its companion bill S 6473. These related bills may address similar issues or provide additional context for the current proposal.

Conclusion

Bill A 2082 represents a legislative effort to support senior citizens and persons with disabilities by providing tax relief related to pension income and enhancing tax abatements for rent-controlled and rent-regulated properties. The bill's progress through the legislative process will be closely monitored, particularly as it moves through the Aging Committee.

Compiled from official sources — confirm details with the bill’s official record.

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