Release #150-98

Contact: Colleen Roche (212) 788-2958 or Jennifer Chait (212) 788-8479

MAYOR GIULIANI SIGNS BILL THAT REDUCES THE TAX BURDEN ON NEW YORK CITY'S VETERAN SENIORS

--Bill Allows Seniors To Deduct Veteran's Benefits From Income Totals When Determining Their Eligibility For Senior Citizens Homeowners Exemption Benefits--

--Remarks By Mayor Rudolph W. Giuliani At Public Hearing On Local Laws--

The final bill before me today is Introductory Number 66-A, sponsored by Speaker Vallone, Council Members Berman, Ognibene, Harrison, Provenzano, and 15 of their colleagues. This bill would allow senior citizens to deduct their Veteran's benefits when calculating their income to determine their eligibility for the Senior Citizens Homeowners Exemption (SCHE).

Specifically, this bill would ensure that Veterans are not denied SCHE benefits because they receive compensation for injuries sustained during their military service. Consistent with the City's policy of reducing tax burdens on our citizens whenever possible, the bill allows senior citizens to deduct their Veteran's benefits when calculating their incomes to determine eligibility for SCHE. By doing this, the City is also acknowledging the invaluable service to our country made by the many Veterans who have made New York City their home.

For the reasons previously stated, I will now sign the bill

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