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Bill

S 6473

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 Cordell Cleare

Bill S 6473 offers tax abatements to senior citizens and persons with disabilities in rent-controlled housing, easing their financial burden by considering pension income.

REFERRED TO AGING
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Bill Summary · S 6473

Summary of Bill S 6473

Bill Number: S 6473
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: March 14, 2025
Classification: Bill

Purpose and Intent

Bill S 6473 aims to provide financial relief to senior citizens and persons with disabilities who reside in rent-controlled and rent-regulated properties. The bill seeks to address the economic challenges faced by these vulnerable populations by offering tax abatements and considering pension income in the calculation of their financial obligations.

Key Provisions

  • Tax Abatement: The bill proposes a tax abatement for eligible senior citizens and persons with disabilities living in rent-controlled and rent-regulated housing. This abatement would reduce the property taxes owed, thereby lowering the overall housing costs for these individuals.

  • Pension Income Consideration: The legislation includes provisions to ensure that pension income is considered when determining eligibility for the tax abatement. This means that pension income will not negatively impact the ability of seniors and persons with disabilities to qualify for financial assistance.

  • Eligibility Criteria: While specific eligibility criteria are not detailed in the provided information, it is expected that the bill will outline income thresholds and residency requirements to qualify for the tax abatement.

Affected Parties

  • Senior Citizens: Individuals aged 65 and older who live in rent-controlled or rent-regulated properties will benefit from the proposed tax relief.

  • Persons with Disabilities: Individuals with disabilities, regardless of age, residing in similar housing situations will also be eligible for the tax abatement.

  • Landlords and Property Owners: The bill may impact landlords and property owners of rent-controlled and rent-regulated properties, as the tax abatement could affect their overall tax revenue.

Procedural Aspects

  • Legislative Process: As of March 14, 2025, the bill has been referred to the Aging Committee for further consideration. This is an initial step in the legislative process, where the committee will review the bill, hold hearings, and potentially make recommendations for amendments or approval.

  • Related Bills:

    • A 2082: This is a companion bill that may address similar issues or provide additional context to the provisions outlined in S 6473.
    • S 707: This is a prior-session bill that may have laid the groundwork for the current legislation, indicating ongoing legislative interest in this area.

Conclusion

Bill S 6473 represents a significant effort to support senior citizens and persons with disabilities by alleviating some of the financial burdens associated with housing costs. By providing tax abatements and considering pension income, the bill aims to enhance the quality of life for these populations. As the bill progresses through the legislative process, further details and potential amendments will likely emerge.

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

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