NY S00569

Establishes a maximum rent of one-third of combined household income for both Senior Citizens Rent Increase Exemption (SCRIE) and Disability Rent Increase Exemption (DRIE) programs in cities with populations of one million or more.

Requires tax abatement certificates to be issued when the maximum or legal regulated rent exceeds one-third of the household's combined income for the taxable period.

Removes the provision that allowed eligible persons with disabilities to maintain fixed rent increase exemption amounts regardless of whether rent exceeded one-third of household income (effective as of January 1, 2015 or later).

Changes rent collection limits for tenants without monthly shelter allowances from the greater of one-third of disposable income or the pre-eligibility rent to simply one-third of disposable income.

Takes effect immediately upon enactment.