Assembly Bill A5567

Signed By Governor
2009-2010 Legislative Session

Relates to tax exemptions for projects of housing development fund companies

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

2009-A5567 - Details

2009-A5567 - Summary

Relates to tax exemptions for projects of housing development fund companies.

2009-A5567 - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5567

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2009
                               ___________

Introduced  by M. of A. V. LOPEZ, ESPAILLAT, JEFFRIES -- Multi-Sponsored
  by -- M. of A.  BROOK-KRASNY, CAMARA -- read once and referred to  the
  Committee on Housing

AN  ACT  to  amend  the  private housing finance law, in relation to tax
  exemptions for projects of housing development fund companies

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 577 of the private housing finance
law is amended by adding a new paragraph (d) to read as follows:
  (D)  IN  A CITY HAVING A POPULATION OF ONE MILLION OR MORE, WITHIN ONE
HUNDRED TWENTY DAYS FOLLOWING RECEIPT OF A WRITTEN SUBMISSION  FROM  THE
SUPERVISING  AGENCY REQUESTING A TAX EXEMPTION PURSUANT TO PARAGRAPH (A)
OF THIS SUBDIVISION FOR THE REAL PROPERTY CONTAINING THE  PROJECT  OF  A
HOUSING  DEVELOPMENT  FUND  COMPANY, THE GOVERNING BODY SHALL APPROVE OR
DISAPPROVE BY RESOLUTION THE REQUESTED TAX EXEMPTION. IF  THE  GOVERNING
BODY  FAILS TO TAKE SUCH ACTION WITHIN ONE HUNDRED TWENTY DAYS FOLLOWING
RECEIPT OF SUCH WRITTEN SUBMISSION FROM SUCH  SUPERVISING  AGENCY,  THEN
THE  TAX  EXEMPTION  REQUESTED BY THE SUPERVISING AGENCY SHALL BE DEEMED
APPROVED PURSUANT TO PARAGRAPH (A) OF THIS SUBDIVISION.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06153-02-9

2009-A5567A (ACTIVE) - Details

2009-A5567A (ACTIVE) - Summary

Relates to tax exemptions for projects of housing development fund companies.

2009-A5567A (ACTIVE) - Sponsor Memo

2009-A5567A (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 5567--A

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 13, 2009
                               ___________

Introduced  by M. of A. V. LOPEZ, ESPAILLAT, JEFFRIES -- Multi-Sponsored
  by -- M. of A.  BROOK-KRASNY, CAMARA -- read once and referred to  the
  Committee on Housing -- reported and referred to the Committee on Ways
  and  Means -- committee discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the private housing finance  law,  in  relation  to  tax
  exemptions for projects of housing development fund companies

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 577 of the private housing finance
law is amended by adding a new paragraph (d) to read as follows:
  (D) IN A CITY HAVING A POPULATION OF ONE MILLION OR MORE,  WITHIN  ONE
HUNDRED  TWENTY  DAYS FOLLOWING RECEIPT OF A WRITTEN SUBMISSION FROM THE
SUPERVISING AGENCY REQUESTING A TAX EXEMPTION PURSUANT TO PARAGRAPH  (A)
OF  THIS  SUBDIVISION  FOR THE REAL PROPERTY CONTAINING THE PROJECT OF A
HOUSING DEVELOPMENT FUND  COMPANY,  THE  LOCAL  LEGISLATIVE  BODY  SHALL
APPROVE  OR DISAPPROVE BY RESOLUTION THE REQUESTED TAX EXEMPTION. IF THE
LOCAL LEGISLATIVE BODY FAILS TO TAKE  SUCH  ACTION  WITHIN  ONE  HUNDRED
TWENTY  DAYS  FOLLOWING  RECEIPT  OF  SUCH  WRITTEN SUBMISSION FROM SUCH
SUPERVISING AGENCY, THEN THE TAX EXEMPTION REQUESTED BY THE  SUPERVISING
AGENCY SHALL BE DEEMED APPROVED PURSUANT TO PARAGRAPH (A) OF THIS SUBDI-
VISION.
  S 2. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06153-04-9

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