Assembly Bill A4023

2015-2016 Legislative Session

Includes mixed residential and commercial property within the affordable home ownership program

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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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2015-A4023 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Amd ยง1111, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A4283
2011-2012: A2515
2013-2014: A3212
2017-2018: A7667
2019-2020: A6183
2021-2022: A5631
2023-2024: A4679

2015-A4023 (ACTIVE) - Summary

Includes mixed residential and commercial property within the provisions of the affordable home ownership development program thus authorizing the affordable housing corporation to fund the construction or rehabilitation of housing that also contains a commercial retailing business.

2015-A4023 (ACTIVE) - Bill Text download pdf 

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

                                  4023

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 28, 2015
                               ___________

Introduced by M. of A. FITZPATRICK, McKEVITT -- Multi-Sponsored by -- M.
  of A. THIELE -- read once and referred to the Committee on Housing

AN  ACT to amend the private housing finance law, in relation to includ-
  ing mixed residential and commercial property within the provisions of
  the affordable home ownership development program

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

  Section  1.  Subdivision  1  of  section  1111  of the private housing
finance law, as added by chapter 67 of the laws of 1985, is  amended  to
read as follows:
  1.  "Home" shall mean a one to four family dwelling which has at least
one owner occupant [or], an owner occupied unit in a  cooperative  or  a
condominium  OR  A  ONE  TO  FOUR FAMILY DWELLING WHICH HAS AT LEAST ONE
OWNER OCCUPANT AND CONTAINS AN AREA WHICH MAY BE UTILIZED FOR A  COMMER-
CIAL  RETAILING BUSINESS PROVIDED THAT THE PORTION OF THE PAYMENT, GRANT
OR LOAN FINANCED BY THE CORPORATION FOR SUCH COMMERCIAL  FACILITY  SHALL
NOT EXCEED TWENTY-FIVE PERCENT OF THE TOTAL PAYMENT, GRANT OR LOAN.
  S  2.    Subdivision  6 of section 1111 of the private housing finance
law, as amended by chapter 898 of the laws of 1986, is amended  to  read
as follows:
  6.  "Rehabilitation"  or "home improvement" shall mean all work neces-
sary to bring a structure into compliance with all applicable  laws  and
regulations  including  but not limited to the installation, replacement
or repair of heating, plumbing, electrical and related systems  and  the
elimination of all hazardous and immediately hazardous violations in the
structure  in  accordance  with  state and local laws and regulations of
state and local agencies. Rehabilitation or home  improvement  may  also
include  reconstruction  or  work to improve the habitability or prolong
the useful life of residential property OR MIXED RESIDENTIAL AND COMMER-
CIAL PROPERTY.
  S 3. This act shall take effect immediately.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05796-01-5

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