NY S05225

Allows heads of households with current tax abatement certificates to apply for redetermination if combined household income decreases by more than 20% from the last approved application.

Requires redetermination to re-establish the original ratio of adjusted rent to income that existed at the time of the last approved application.

Makes any redetermination retroactive to the date when the permanent income decrease occurred.

Applies to rent-controlled and rent-regulated properties occupied by senior citizens or persons with disabilities.

Takes effect immediately but expires pursuant to section 17 of chapter 576 of the laws of 1974.