NY S06244

Expands the definition of "dwelling unit" eligible for the senior citizen and persons with disabilities rent increase exemption program to include units subject to rent increase agreements equal to or less than amounts ordered by a rent guideline board of a participating locality

Allows participating localities discretionary authority to provide rent increases up to or above the rent guideline board amount for certain years where agreements specify increases based on but greater than the board's ordered amount

Amends two separate provisions of section 467-b of the real property tax law (originally enacted in 1972 and 1974) to incorporate the new rent guideline board language

Takes effect 30 days after becoming law, with provisions subject to expiration and reversion procedures outlined in chapter 576 of the laws of 1974