NY S01814

Allows heads of household with valid tax abatement certificates to request redetermination if household combined income permanently decreases by more than 20 percent.

Redetermination reestablishes the ratio of adjusted rent to income that existed at the time of the last approved abatement application or renewal.

Permits redetermination to be made retroactive to the date of permanent income decrease, at local option, with look-back period limited to the most recent application or renewal filing date.

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

Takes effect immediately upon enactment.