Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 29, 2024 |
reported and committed to finance |
Jan 03, 2024 |
referred to housing, construction and community development |
Feb 27, 2023 |
reported and committed to finance |
Jan 25, 2023 |
print number 2506a |
Jan 25, 2023 |
amend and recommit to housing, construction and community development |
Jan 20, 2023 |
referred to housing, construction and community development |
Senate Bill S2506A
2023-2024 Legislative Session
Sponsored By
(D) 27th Senate District
Current Bill Status - In Senate Committee Finance 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
Votes
Bill Amendments
co-Sponsors
(D, WF) 31st Senate District
2023-S2506 - Details
- See Assembly Version of this Bill:
- A5865
- Current Committee:
- Senate Finance
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §1111, add §59-j, Priv Hous Fin L
- Versions Introduced in 2021-2022 Legislative Session:
-
S8265
2023-S2506 - Summary
Relates to creating a new acquisition fund for community land trusts located in New York state; provides that moneys of the fund shall be expended solely to carry out the affordable home ownership development program exclusively for community land trusts; defines community land trusts.
2023-S2506 - Sponsor Memo
BILL NUMBER: S2506 SPONSOR: KAVANAGH TITLE OF BILL: An act to amend the private housing finance law, in relation to creating a new acquisition fund for community land trusts located in New York state PURPOSE: The purpose of this bill is to promote housing stability and permanent affordability, especially in communities that might otherwise be subject to speculative investment in the private housing market that might displace existing residents, by assisting community land trusts (CLTs) in acquiring vacant land or housing in need of repair through a new New York State CLT Acquisition Fund. SUMMARY OF PROVISIONS: Section 1 of the bill amends the law governing the Affordable Home Ownership Development Program, Article 19 of the Private Housing Finance
2023-S2506 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2506 2023-2024 Regular Sessions I N S E N A T E January 20, 2023 ___________ Introduced by Sens. KAVANAGH, JACKSON -- 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 private housing finance law, in relation to creating a new acquisition fund for community land trusts located in New York state THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 1111 of the private housing finance law, as amended by chapter 202 of the laws of 2010, is amended and a new subdivision 9 is added to read as follows: 2. "Eligible applicant" shall mean a city, a town, a village, a hous- ing development fund company incorporated pursuant to article eleven of this chapter, any not-for-profit corporation or charitable organization which has as one of its primary purposes the improvement of housing or a municipal housing authority created pursuant to the public housing law, A COMMUNITY LAND TRUST AS DEFINED IN SUBDIVISION NINE OF THIS SECTION, or a public benefit corporation formed to assist particular munici- palities with their housing, community development or renewal needs, or a county, provided, however, that the county acts as an administrator of a program under which projects are constructed, rehabilitated or improved by other eligible applicants or acts in any other capacity as permitted by law. 9. FOR THE PURPOSES OF THIS SUBDIVISION, "COMMUNITY LAND TRUST" SHALL MEAN A CORPORATION ORGANIZED PURSUANT TO THE NOT-FOR-PROFIT CORPORATION LAW AND EXEMPT FROM TAXATION PURSUANT TO SECTION 501(C)(3) OF THE INTER- NAL REVENUE CODE THAT SATISFIES THE FOLLOWING CRITERIA: (A) SUCH NONPROFIT CORPORATION'S PRIMARY PURPOSE IS THE CREATION AND MAINTENANCE OF PERMANENTLY AFFORDABLE SINGLE-FAMILY OR MULTI-FAMILY RESIDENCES; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07226-01-3 S. 2506 2
co-Sponsors
(D, WF) 31st Senate District
(D, WF) 48th Senate District
(D, WF) 18th Senate District
2023-S2506A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5865
- Current Committee:
- Senate Finance
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §1111, add §59-j, Priv Hous Fin L
- Versions Introduced in 2021-2022 Legislative Session:
-
S8265
2023-S2506A (ACTIVE) - Summary
Relates to creating a new acquisition fund for community land trusts located in New York state; provides that moneys of the fund shall be expended solely to carry out the affordable home ownership development program exclusively for community land trusts; defines community land trusts.
2023-S2506A (ACTIVE) - Sponsor Memo
BILL NUMBER: S2506A SPONSOR: KAVANAGH TITLE OF BILL: An act to amend the private housing finance law, in relation to creating a new acquisition fund for community land trusts located in New York state PURPOSE: The purpose of this bill is to promote housing stability and permanent affordability, especially in communities that might otherwise be subject to speculative investment in the private housing market that might displace existing residents, by assisting community land trusts (CLTs) in acquiring vacant land or housing in need of repair through a new New York State CLT Acquisition Fund. SUMMARY OF PROVISIONS: Section 1 of the bill amends the law governing the Affordable Home Ownership Development Program, Article 19 of the Private Housing Finance
2023-S2506A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2506--A 2023-2024 Regular Sessions I N S E N A T E January 20, 2023 ___________ Introduced by Sens. KAVANAGH, JACKSON -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to amend the private housing finance law, in relation to creating a new acquisition fund for community land trusts located in New York state THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 1111 of the private housing finance law, as amended by chapter 202 of the laws of 2010, is amended and a new subdivision 9 is added to read as follows: 2. "Eligible applicant" shall mean a city, a town, a village, a hous- ing development fund company incorporated pursuant to article eleven of this chapter, any not-for-profit corporation or charitable organization which has as one of its primary purposes the improvement of housing or a municipal housing authority created pursuant to the public housing law, A COMMUNITY LAND TRUST AS DEFINED IN SUBDIVISION NINE OF THIS SECTION, or a public benefit corporation formed to assist particular munici- palities with their housing, community development or renewal needs, or a county, provided, however, that the county acts as an administrator of a program under which projects are constructed, rehabilitated or improved by other eligible applicants or acts in any other capacity as permitted by law. 9. FOR THE PURPOSES OF THIS SUBDIVISION, "COMMUNITY LAND TRUST" SHALL MEAN A CORPORATION ORGANIZED PURSUANT TO THE NOT-FOR-PROFIT CORPORATION LAW AND EXEMPT FROM TAXATION PURSUANT TO SECTION 501(C)(3) OF THE INTER- NAL REVENUE CODE THAT SATISFIES THE FOLLOWING CRITERIA: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07226-02-3 S. 2506--A 2
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