NY A01990

Amends the Private Housing Finance Law to allow the affordable home ownership development program to serve households with service-related disabled veterans as an alternative to the lowest income household requirement.

Defines "service related disabled veteran" as a person who served in active military, naval, or air service (or received certain expeditionary medals) and was discharged under honorable conditions.

Requires service-related disabled veterans to have a disability rating of 40 percent or higher from the federal Veterans Administration or U.S. Department of Defense, with the disability incurred in line of duty.

Directs the division to promulgate rules and regulations for documenting the disability rating qualification.

Takes effect on the thirtieth day after becoming law.