Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 23, 2010 |
referred to housing, construction and community development delivered to senate passed assembly |
Jan 06, 2010 |
ordered to third reading cal.248 returned to assembly died in senate |
Jun 11, 2009 |
referred to rules |
Jun 10, 2009 |
delivered to senate passed assembly ordered to third reading rules cal.115 rules report cal.115 reported |
Jun 02, 2009 |
reported referred to rules |
Jan 22, 2009 |
referred to housing |
Assembly Bill A3031
2009-2010 Legislative Session
Sponsored By
CHRISTENSEN
Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee
- 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
Actions
2009-A3031 (ACTIVE) - Details
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd ยง1112, Priv Hous Fin L
- Versions Introduced in 2011-2012 Legislative Session:
-
A7833
2009-A3031 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3031 2009-2010 Regular Sessions I N A S S E M B L Y January 22, 2009 ___________ Introduced by M. of A. CHRISTENSEN, V. LOPEZ -- read once and referred to the Committee on Housing AN ACT to amend the private housing finance law, in relation to afforda- ble home ownership development contracts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 1112 of the private housing finance law, as amended by chapter 333 of the laws of 2004, is amended to read as follows: 1. Within the limit of funds available in the affordable housing development account, the corporation is hereby authorized to enter into contracts with eligible applicants to provide grants which such appli- cants shall use to finance affordable home ownership development programs subject to the terms and conditions of this article. Any grants received by a municipality hereunder shall not be deemed to be municipal funds. Grantees shall utilize funds provided pursuant to this article solely as payments, grants and loans to owners to reduce the costs of new construction, rehabilitation or home improvement or the cost of acquisition, but only where such acquisition is part of an affordable home ownership development program or project to construct or rehabili- tate homes, or as otherwise authorized by law. Such financial assistance may be in the form of loans, participation in loans including but not limited to participation in loans originated or financed by lending institutions as defined in section forty-two of this chapter, private or public employee pension funds or the state of New York mortgage agency, or grants, on such terms and conditions as the grantee with the approval of the corporation shall determine, provided that no such payments, grants and loans shall exceed the lesser of (i) sixty percent of the project cost FOR PROJECTS INVOLVING ACQUISITION OR ONE HUNDRED PERCENT OF REHABILITATION PROGRAMS WITHOUT AN ACQUISITION COMPONENT or (ii) the following per dwelling unit limitations (A) thirty-five thousand dollars EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05504-01-9
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