NY State Senate Bill 2021-S1018

Senate Bill S1018

2021-2022 Legislative Session

Relates to the eligibility of active volunteer firefighters and volunteer ambulance workers for the state of New York mortgage agency low interest rate program

download bill text pdf

Archive: Last Bill Status - In Senate Committee Local Government 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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to local government
Jan 06, 2021	referred to local government

2021-S1018 (ACTIVE) - Details

Current Committee:: Senate Local Government
Law Section:: Real Property Tax Law
Laws Affected:: Add §457-a, RPT L
Versions Introduced in 2019-2020 Legislative Session:: S6838

2021-S1018 (ACTIVE) - Summary

Provides that active volunteer firefighters and volunteer ambulance workers shall qualify for the low interest rate program regardless of income eligibility limits.

2021-S1018 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S1018

SPONSOR: KAMINSKY
 
TITLE OF BILL:

An act to amend the real property tax law, in relation to the eligibil-
ity of active volunteer firefighters and volunteer ambulance workers for
the state of New York mortgage agency low interest rate program

 
PURPOSE OR GENERAL IDEA OF BILL:

To expand eligibility for the Low Interest Rate Program (LIRP) of the
State of New York Mortgage Agency (SONYMA) to volunteer fighters and
volunteer ambulance workers.

 
SUMMARY OF SPECIFIC PROVISIONS:

Section one adds section 457-a which expands eligibility for the low
interest rate program of the State of New York Mortgage Agency (SONYMA)
to volunteer firefighters and volunteer ambulance workers who have
served for at least one year.

Section two is the effective date.

 
JUSTIFICATION:

The purpose of this legislation is to assist with homeownership for our
volunteer firefighters and EMTs who perform crucially and lifesaving
services for their communities. There has also been a decline in new
volunteer firefighters and EMTs, and hopefully, through the expansion of
this program, recruitment efforts will improve. New York's homeownership
rates also continue to decline. Our state has one of the lowest homeown-
ership rates of only 51 percent, which is discouraging when compared to
the national rate of 64.8 percent. There are too many hurdles to buying
a home in New York and the state should act to address this issue.

This bill would address this problem by providing our volunteer fire-
fighters and EMTs with the assistance they deserve to purchase a home.
Under the legislation, qualified volunteer firefighters and ambulance
workers who are eligible for a thirty-year mortgage will be able to
receive a preferential interest rate of one-and-one-half (1.5%) percent
below the standard interest rate. New York's volunteer firefighters and
EMTs are true heroes. It is important the state acts to assist them in
the daunting process of purchasing a home.

 
PRIOR LEGISLATIVE HISTORY:

2020: S6838, Kaminsky. Referred to Local Government.
2019: S6838, Kaminsky. Referred to Rules.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect on the thirtieth day after it shall have
become law. Effective immediately, the addition, amendment and/or repeal
of any rule or regulation necessary for the implementation of this act
on its effective date is authorized and directed to be made on or before
such effective date.

2021-S1018 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1018
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by Sen. KAMINSKY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the real property tax law, in relation to the  eligibil-
   ity  of  active volunteer firefighters and volunteer ambulance workers
   for the state of New York mortgage agency low interest rate program
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  real  property  tax  law  is amended by adding a new
 section 457-a to read as follows:
   § 457-A. ELIGIBILITY FOR THE LOW INTEREST RATE PROGRAM.    INDIVIDUALS
 WHO ARE EITHER AN ACTIVE VOLUNTEER FIREFIGHTER AS DEFINED IN SUBDIVISION
 ONE  OF  SECTION  TWO  HUNDRED FIFTEEN OF THE GENERAL MUNICIPAL LAW OR A
 VOLUNTEER AMBULANCE WORKER AS DEFINED IN SUBDIVISION FOURTEEN OF SECTION
 TWO HUNDRED NINETEEN-K OF THE GENERAL MUNICIPAL LAW, AND WHO HAVE SERVED
 AS SUCH FOR AT LEAST TWELVE CONSECUTIVE MONTHS,  SHALL  BE  ELIGIBLE  TO
 PARTICIPATE  IN  THE STATE OF NEW YORK MORTGAGE AGENCY LOW INTEREST RATE
 PROGRAM REGARDLESS OF INCOME LIMITS DEFINED BY THE  STATE  OF  NEW  YORK
 MORTGAGE  AGENCY  LOW  INTEREST  RATE PROGRAM. SUCH ELIGIBILITY SHALL BE
 LIMITED TO THE PURCHASE OF RESIDENTIAL PROPERTY WHICH SHALL BE OWNER-OC-
 CUPIED. FOR ELIGIBLE INDIVIDUALS, THE  INTEREST  RATE  FOR  THIRTY  YEAR
 MORTGAGES  SHALL  BE  THE  STANDARD  INTEREST  RATE OFFERED TO ALL OTHER
 PARTICIPANTS IN SUCH LOW INTEREST RATE PROGRAM.
   THE COMMISSIONER OF THE DIVISION  OF  HOUSING  AND  COMMUNITY  RENEWAL
 SHALL  PROMULGATE SUCH RULES AND REGULATIONS AS MAY BE NECESSARY FOR THE
 ADMINISTRATION OF THIS SECTION.
   § 2. This act shall take effect on the thirtieth day  after  it  shall
 have  become  a  law.    Effective  immediately, the addition, amendment
 and/or repeal of any rule or regulation necessary for the implementation
 of this act on  its  effective  date  are  authorized  to  be  made  and
 completed on or before such effective date.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD01165-01-1

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