Senate Bill S4288

2013-2014 Legislative Session

Creates a veteran's home and land ownership loan program

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Veterans, Homeland Security And Military Affairs 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

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2013-S4288 (ACTIVE) - Details

See Assembly Version of this Bill:
A338
Current Committee:
Senate Veterans, Homeland Security And Military Affairs
Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 19-A ยงยง1115 - 1115-f, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: S5131, A4081
2011-2012: S2506, A1303
2015-2016: A3182
2017-2018: A1704
2019-2020: A1662
2021-2022: A6421
2023-2024: A4307

2013-S4288 (ACTIVE) - Summary

Creates a veteran's home and land ownership loan program to provide loans to veterans to purchase homes or unimproved land suitable for building; requires such loans to be secured by a second mortgage.

2013-S4288 (ACTIVE) - Sponsor Memo

2013-S4288 (ACTIVE) - Bill Text download pdf

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

                                  4288

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                             March 19, 2013
                               ___________

Introduced  by  Sen.  RANZENHOFER -- read twice and ordered printed, and
  when printed to be committed to the Committee  on  Veterans,  Homeland
  Security and Military Affairs

AN ACT to amend the private housing finance law, in relation to creating
  a veteran's home and land ownership loan program

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

  Section 1. The private housing finance law is amended by adding a  new
article 19-A to read as follows:
                              ARTICLE XIX-A
                 VETERAN'S HOME AND LAND OWNERSHIP LOAN
SECTION 1115. LEGISLATIVE PURPOSE.
        1115-A. DEFINITIONS.
        1115-B. CREATION OF THE "VETERAN'S HOME AND LAND OWNERSHIP
                  LOAN FUND".
        1115-C. PURPOSE AND TERMS OF LOAN.
        1115-D. LOAN REPAYMENT.
        1115-E. ISSUANCE OF BONDS.
        1115-F. ADOPTION OF REGULATIONS.
  S 1115. LEGISLATIVE PURPOSE. IT IS HEREBY FOUND AND DECLARED THAT MANY
NEW  YORK RESIDENTS HAVE SERVED OUR NATION HONORABLY IN THE ARMED FORCES
OF THE UNITED STATES, AND THAT MANY SUCH  NEW  YORKERS  HAVE  SACRIFICED
CONSIDERABLY  DURING THEIR SERVICE. IT IS IN THE PUBLIC INTEREST BOTH TO
DEMONSTRATE OUR APPRECIATION FOR THAT SERVICE BY PROVIDING STATE  FINAN-
CIAL  ASSISTANCE  TO SUCH VETERANS; IN ORDER TO ENCOURAGE HOME OWNERSHIP
AND THE REHABILITATION OF DETERIORATING HOUSING,  STABILIZE  COMMUNITIES
AND IMPROVE THE LOCAL TAX BASE.
  S 1115-A. DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  1.  "PERSON" MEANS AN HONORABLY DISCHARGED VETERAN OF THE ARMED FORCES
OF THE UNITED STATES, OR THEIR SURVIVING UNMARRIED SPOUSE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00230-01-3
              

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