Assembly Bill A6849

2009-2010 Legislative Session

Authorizes the use of public retirement or pension funds to provide permanent affordable housing

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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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2009-A6849 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §45-a Priv Hous Fin L; amd §177, R & SS L
Versions Introduced in Other Legislative Sessions:
2011-2012: A3738
2013-2014: A5095

2009-A6849 (ACTIVE) - Summary

Authorizes the investment of public retirement or pension funds in bonds issued by the New York state housing finance agency for the purpose of providing permanent affordable housing consisting of rehabilitated and newly constructed dwellings; provides for participation by minority and women-owned business enterprises in such construction; establishes the permanent affordable housing advisory board to administer the program.

2009-A6849 (ACTIVE) - Bill Text download pdf

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

                                  6849

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                             March 13, 2009
                               ___________

Introduced by M. of A. CAMARA -- read once and referred to the Committee
  on Housing

AN  ACT  to amend the private housing finance law and the retirement and
  social security law, in relation to  authorizing  the  use  of  public
  retirement  or pension funds for the purpose of establishing permanent
  affordable housing; and establishing a  permanent  affordable  housing
  advisory board

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

  Section 1.   Legislative findings and  declarations.  The  legislature
finds  and determines that there continues to exist in the state a seri-
ously inadequate supply of safe and sanitary dwelling accommodations for
persons of low income. This condition is contrary to the public interest
and threatens the health, safety, welfare, comfort and security  of  the
people of the state.
  The legislature further finds and declares that many homeless families
live in overcrowded and often dilapidated welfare hotels; that temporary
housing  is expensive and yet offers only minimal services; and that the
state must continue to develop cost effective alternatives to  temporary
housing,  ultimately  permanent  housing  is the only real answer to the
housing crisis.
  The legislature further finds and reveals that the ordinary operations
of private enterprise cannot provide an  adequate  supply  of  safe  and
sanitary  dwelling  accommodations rentals which families and persons of
low income can afford. The legislature therefore finds  that  the  state
should  dedicate a portion of the New York state pension funds to create
a sinking bond for the creation  of  permanent  affordable  housing  for
families and persons who are homeless, at risk of being homeless, and/or
low income families and persons. To promote business in the state of New
York, it shall be the intent of the legislature to encourage small busi-
nesses  to  participate in the rehabilitation and construction of dwell-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10428-01-9
              

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