New York Laws
Article 11 - Housing Development Fund Companies
577-A - Adjusting Fair Rental Equalization for the Elderly.

(b) Such payments shall be made only where over-income tenants are
required to pay surcharges to the municipality.
(c) Such payments shall be made only on account of a person or family
in occupancy where the head of the household is sixty-two years of age
or older and is not a recipient of public assistance pursuant to the
social services law, and where the net probable aggregate annual income
of the person or family in occupancy does not exceed six thousand five
hundred dollars a year. Notwithstanding the provisions of subdivision
twenty-nine of section two of this chapter, net probable aggregate
annual income as used in this subdivision shall mean the annual income
of family members from all sources after deduction of federal, state and
city income taxes; provided that any municipality may provide that
increases in benefits under the social security act which take effect
after such person or family has assumed occupancy shall not be taken
into account.
(d) A company having a contract with the municipality pursuant to this
subdivision may not collect from persons or families in occupancy on
whose account such payments are made any rentals in excess of the
amounts specified in such contract.