NY S00398

Expands New York's senior citizens' tax abatement for rent-controlled and rent-regulated properties to include persons with disabilities receiving SSDI, SSI, or veterans' disability benefits, or receiving medical assistance based on disability determination.

Establishes income limits for disabled persons seeking tax abatement: for SSDI/medical assistance recipients, combined household income must not exceed $4,000-$29,000 (varying by date); for SSI recipients, income cannot exceed federal SSI eligibility thresholds; for veterans' disability benefits recipients, income cannot exceed federal disability pension/compensation eligibility thresholds.

Allows income adjustment for individuals who retire before the tax year commences, permitting exclusion of salary/earnings and projection of retirement income over the full year for income qualification purposes.

Applies to two separate sections of real property tax law (467-b and 467-c) to ensure consistent treatment across different abatement programs.

Takes effect 120 days after becoming law, with provisions for expiration and reversion of certain amendments according to existing statutory requirements.