Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to housing, construction and community development |
Oct 06, 2017 |
print number 4458a |
Oct 06, 2017 |
amend and recommit to housing, construction and community development |
Feb 15, 2017 |
referred to housing, construction and community development |
Senate Bill S4458A
2017-2018 Legislative Session
Sponsored By
(D, WF) 12th Senate District
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
Bill Amendments
co-Sponsors
(D) 36th Senate District
(D) Senate District
(D) 10th Senate District
(D, WF) 29th Senate District
2017-S4458 - Details
2017-S4458 - Sponsor Memo
BILL NUMBER: S4458 TITLE OF BILL : An act to amend the real property tax law, in relation to requiring affordable housing projects to calculate and only use the area median income for the specific zip code that the project is located in for determining affordability PURPOSE : To create actual affordable housing by requiring the use of the particular zip code's AMI in determining affordability levels. In calculating affordability, the local zip code's AMI will be used, rather than regional AMI figures that inflate affordability levels in some counties. SUMMARY OF PROVISIONS : When determining the Area Median Income (AMI) for all affordable housing projects, the AMI for the particular project shall be calculated by determining the AMI in the specific zip code where the project is located. The local zip code's AMI shall be the sole number to be used for all affordability purposes and calculations. JUSTIFICATION :
2017-S4458 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4458 2017-2018 Regular Sessions I N S E N A T E February 15, 2017 ___________ Introduced by Sen. GIANARIS -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the real property tax law, in relation to requiring affordable housing projects to calculate and only use the area median income for the specific zip code that the project is located in for determining affordability THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 421-a of the real property tax law is amended by adding a new paragraph e to read as follows: E. "AREA MEDIAN INCOME (AMI)." WHENEVER CALCULATING THE AFFORDABILITY OF A PROJECT, AMI SHALL BE BASED SOLELY ON THE SPECIFIC ZIP CODE WHERE THE PROJECT SHALL BE LOCATED. § 2. All affordable housing projects, including, but not limited to, 421-a projects, shall only use the area median income (AMI) for the specific zip code that the project is located in for determining afford- ability. § 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09241-02-7
co-Sponsors
(D) 36th Senate District
(D) Senate District
(D) 10th Senate District
(D, WF) 29th Senate District
2017-S4458A (ACTIVE) - Details
2017-S4458A (ACTIVE) - Sponsor Memo
BILL NUMBER: S4458A SPONSOR: GIANARIS TITLE OF BILL: An act to amend the real property tax law, in relation to requiring affordable housing projects to calculate and only use the area median income for the specific zip code that the project is located in for determining affordability PURPOSE: To create actual affordable housing by requiring the use of the partic- ular zip code's AMI in determining affordability levels. In calculating affordability, the local zip code's AMI will be used, rather than regional AMI figures that inflate affordability levels in some counties. SUMMARY OF PROVISIONS: When determining the Area Median Income (AMI) for all affordable housing projects, the AMI for the particular project shall be calculated by determining the AMI in the specific zip code where the project is located. However, for projects in a zip code with an AMI greater than
2017-S4458A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4458--A 2017-2018 Regular Sessions I N S E N A T E February 15, 2017 ___________ Introduced by Sens. GIANARIS, BAILEY, HAMILTON, SANDERS, SERRANO, STAVI- SKY -- read twice and ordered printed, and when printed to be commit- ted to the Committee on Housing, Construction and Community Develop- ment -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property tax law, in relation to requiring affordable housing projects to calculate and only use the area median income for the specific zip code that the project is located in for determining affordability THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 421-a of the real property tax law is amended by adding a new paragraph e to read as follows: E. "AREA MEDIAN INCOME (AMI)." WHENEVER CALCULATING THE AFFORDABILITY OF A PROJECT, AMI SHALL BE BASED SOLELY ON THE SPECIFIC ZIP CODE WHERE THE PROJECT SHALL BE LOCATED. § 2. All affordable housing projects, including, but not limited to, 421-a projects, shall only use the area median income (AMI) for the specific zip code that the project is located in for determining afford- ability. However, for any affordable housing project in the five coun- ties that make up New York City, including, but not limited to a 421-a project, that is being located in a zip code where the AMI for that specific zip code is higher than the New York City Region AMI, as defined by HUD, the AMI for the affordability project, including, but not limited to a 421-a project, will be the AMI that HUD has determined to be the New York City Region AMI. § 3. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09241-06-7
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