NY S06473

Removes the consumer price index (CPI) cap on pension and Social Security benefit increases that can be excluded from income calculations for rent increase exemption eligibility

Allows all pension and Social Security increases occurring after the date of eligibility to be excluded from income, regardless of the amount of increase

Applies to senior citizens or persons with disabilities living in rent-controlled or rent-regulated properties who received a rent increase exemption order before July 1, 2024

Requires the exemption order to be renewed after each benefit period or granted to account for temporary income increases

Takes effect immediately upon enactment