NY S01420

Expands eligibility for senior citizens' tax abatement on rent-controlled and rent-regulated property to include persons with disabilities receiving Social Security Disability Insurance (SSDI), Supplemental Security Income (SSI), or medical assistance benefits based on disability determination

Establishes income limits for persons with disabilities claiming tax abatement: for SSDI/medical assistance recipients, household combined income cannot exceed $4,000-$29,000 depending on local law; for SSI recipients, income cannot exceed the federal SSI eligibility maximum; for veterans receiving disability pension or compensation, income cannot exceed federal eligibility limits

Allows income adjustment for individuals retiring before the start of the income tax year by excluding salary/earnings and projecting retirement income over the full year

Defines "person with a disability" to include individuals receiving SSDI, SSI, disability pension or compensation from the Department of Veterans Affairs, or those previously eligible for such benefits who currently receive medical assistance

Takes effect 90 days after enactment, with certain provisions subject to expiration and reversion under existing law