NY A09744

Replaces the income eligibility standard for tax abatements on rent-regulated and rent-controlled apartments occupied by persons with disabilities from a federal supplemental security income threshold to a fixed $50,000 annual household income limit, effective July 1, 2014.

Applies the $50,000 income cap to the definition of "person with a disability" for purposes of property tax exemptions, including those receiving Social Security Disability Insurance (SSDI), Supplemental Security Income (SSI), or Veterans Affairs disability benefits.

Allows local governments to set their own income thresholds by local law, ordinance, or resolution, provided they do not exceed $50,000.

Sunsets on July 1, 2016, at which point the act expires and its provisions are repealed.