Assembly Bill A10424

2023-2024 Legislative Session

Directs the commissioner of the New York state division of housing and community renewal to promulgate rules and regulations relating to the low-income housing tax credit

download bill text pdf

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Current 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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2023-A10424 (ACTIVE) - Details

See Senate Version of this Bill:
S9654
Current Committee:
Assembly Housing
Law Section:
Housing

2023-A10424 (ACTIVE) - Summary

Directs the commissioner of the New York state division of housing and community renewal to promulgate rules and regulations to provide a taxpayer or entity having applied for the low-income housing tax credit and certified by the division of housing and community renewal with a notice of placement on a waiting list upon the submission of a completed application.

2023-A10424 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10424
 
                           I N  A S S E M B L Y
 
                               May 24, 2024
                                ___________
 
 Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Burdick) --
   read once and referred to the Committee on Housing
 
 AN ACT in relation to directing the commissioner of the New  York  state
   division  of  housing  and  community  renewal to promulgate rules and
   regulations relating to the low-income housing tax credit
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The commissioner of the New York state division of housing
 and community renewal shall promulgate rules and regulations to  provide
 a taxpayer or entity having applied for the low-income housing tax cred-
 it and certified by the division of housing and community renewal with a
 notice of placement on a waiting list upon the submission of a completed
 application. Such rules and regulations shall include the provision of a
 date  of  expected  credit allocation delivered to the successful appli-
 cants to allow for successful applicants to financially plan without the
 need for continuous applications provided that the submitted  specifica-
 tions and qualifications of the application do not substantially change.
 The commissioner of the New York state division of housing and community
 renewal,  in  administering the provisions of the low-income housing tax
 credit program, shall have the authority to accept or make revisions  to
 the waiting list.
   ยง 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.  Effective immediately, the addition, amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation  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.
                                                            LBD15641-01-4

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