senate Bill S1384

Establishes the home ownership assistance program

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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  • 07 / Jan / 2011
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 04 / Jan / 2012
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Summary

Establishes the home ownership assistance program; allows qualified individuals to receive home ownership assistance payments when they purchase an eligible home; defines who is eligible for such assistance payments and how much those assistance payments will be.

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Bill Details

See Assembly Version of this Bill:
A2961
Versions:
S1384
Legislative Cycle:
2011-2012
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Public Housing Law
Laws Affected:
Add Art IX §§170 - 176, Pub Hous L
Versions Introduced in Previous Legislative Cycles:
2009-2010: S1138, A1433
2007-2008: A623

Sponsor Memo

BILL NUMBER:S1384

TITLE OF BILL:
An act
to amend the public housing law, in relation to creating a home
ownership assistance program

PURPOSE:
To promote home ownership by providing assistance to persons with an
annual household income under eighty percent of the median poverty
level toward purchasing a home, condominium or cooperative.

SUMMARY OF PROVISIONS:
Amends the
Public Housing Law by adding a new Article IX entitled
the "Home Ownership Assistance Program." The following new
sections are created in this new article:

- §170 allows for the creation of the Home Ownership Program
within the New York City Department of Housing Preservation
and Development (HPD). It also defines the terms "eligible unit,"
"qualified
household," and "qualified not-for-profit." A qualified
household is any person or family with an annual household
income under eighty percent of the median poverty level who has
been employed for more than twelve months. Persons over the age of
sixty-five years old and individuals who are disabled do not have
to meet the employment requirement. Qualified households that are
accepted into the program may purchase any home, condominium or
cooperative that are within the price limit set in §172. Finally,
this section also provides for qualified non-profits that have
experience and the capacity to undertake a purchase for
rehabilitation and resell to participate in the program.

- §171
sets forth the parameters of the Home Ownership Assistance Program
by establishing a maximum purchase price, prohibits "overcrowding,"
and defines monthly home ownership expenses to include mortgage
interest rates and insurance premiums, real estate taxes, home
owners insurance and repairs. Provides that monthly expenses may
not exceed thirty percent of the household gross
monthly income.

-§172 established an application and review process. Qualified
households must apply for home ownership assistance. Housing Units
must meet the standards § 171(2). Upon approval, the applicant
must attend "home ownership assistance counseling," which will
include guidance in
budgeting and home maintenance.

-§173 sets the amount and procedure for home ownership
assistance payments. The maximum financial assistance under the Home

Ownership Program may not exceed the total cost of acquisition and
rehabilitation. Financial assistance shall be made available through
a pro-rated loan. New York City Department of Housing Preservation
and Development has the right to determine what qualifies as capital
improvement and must be notified of such improvement prior to
commencement of rehabilitation. The maximum assistance for qualified
not-for-profit may not
exceed twenty thousand per building. Subdivision three sets the
guidelines for the reselling of the property.

-§174 sets forth the terms of assistance for non-profit
organizations including the maximum amount of financial assistance
available as defined in section 173, and allows the organization to
manage the property during an interim period under a lease-to-own
program. The purchaser must be located within twelve months from
purchase by the non-profits and the initial occupant must qualify as
an eligible household.

-§175 authorizes the New York City Department of Housing
Preservation and Development to implement any rule or regulation
necessary for the successful implementation of this program and sets
an application fee for the Home Ownership Program of $100.

-§176 defines the funding for the Home Ownership Assistance
Program through the use of two percent of the funding allocated to
the New York State Home Program and Community Development Block Grant
to the program.

JUSTIFICATION:
This legislation will create the Home Ownership Assistance program
which will provide financial assistance to first time home buyers
with an annual household income under eighty percent of the median
poverty level to purchase a home, condominium or cooperative.

The
United States Census Bureau 1999-2000 survey placed the poverty rate
in New York City at 19.3% compared to that of the State of New York
overall at 13.8%. Throughout New York City there is a lack of
available affordable housing for low-income families. This
legislation will allow qualified families to purchase a home
condominium or cooperative within New York City, who otherwise would
not be able to afford such purchases.

LEGISLATIVE HISTORY:
2009-10: S.1138 - Referred to Housing, Construction and
Community Development
2007-08: S.2916 - Referred to Housing, Construction and
Community Development
2005-06: S.1569 - Referred to Housing, Construction and
Community Development
2003-04: S.2486 - Referred to Housing, Construction and
Community Development

2002: S.6755 - Referred to Housing, Construction and
Community Development

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
One hundred eighty days after it shall have become law, with provisions.

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

                                  1384

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             January 7, 2011
                               ___________

Introduced by Sens. PERKINS, DIAZ, DILAN, DUANE, HASSELL-THOMPSON, PARK-
  ER,  SMITH  --  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 public housing law, in relation to creating a home
  ownership assistance program

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

  Section 1. The public housing law is amended by adding a new article 9
to read as follows:
                               ARTICLE IX
                    HOME OWNERSHIP ASSISTANCE PROGRAM
SECTION 170. DEFINITIONS.
        171. HOME OWNERSHIP ASSISTANCE PROGRAM.
        172. APPLICABILITY OF THE PROGRAM.
        173. AMOUNT   AND   PROCEDURE   FOR  HOME  OWNERSHIP  ASSISTANCE
               PAYMENTS.
        174. TERMS OF ASSISTANCE FOR NOT-FOR-PROFIT ORGANIZATIONS.
        175. RULES AND REGULATIONS.
        176. FUNDING FOR THE HOME OWNERSHIP ASSISTANCE PROGRAM.
  S 170. DEFINITIONS. FOR PURPOSES OF THIS ARTICLE, THE FOLLOWING  TERMS
SHALL HAVE THE FOLLOWING MEANINGS:
  1.  "DEPARTMENT"  SHALL  MEAN  THE NEW YORK CITY DEPARTMENT OF HOUSING
PRESERVATION AND DEVELOPMENT.
  2. "ELIGIBLE UNIT" SHALL MEAN:
  A.  ANY (I) HOME WITH FOUR OR LESS UNITS; (II) CONDOMINIUM;  OR  (III)
COOPERATIVE;
  B.  WHERE  THE  PURCHASE  OF SUCH HOME, CONDOMINIUM, OR COOPERATIVE IS
PROVIDED FOR, INSURED, OR GUARANTEED BY THE STATE OR FEDERAL GOVERNMENT.
  3. "QUALIFIED HOUSEHOLD" SHALL MEAN ANY PERSON OR HIS  OR  HER  FAMILY
MEMBER WHO:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03424-01-1

S. 1384                             2

  A.  (I)  HAS  AN  ANNUAL  HOUSEHOLD INCOME UNDER EIGHTY PERCENT OF THE
MEDIAN POVERTY LEVEL, PROVIDED, THAT ANY ASSISTANCE RECEIVED AS A RESULT
OF A SOCIAL PROGRAM SHALL NOT BE CONSIDERED WHEN CALCULATING AN INDIVID-
UAL'S GROSS INCOME.  THE DEPARTMENT SHALL DETERMINE  INCOME  ELIGIBILITY
OF  HOME  BUYERS  USING THE INCOME DETERMINATION METHODOLOGY UTILIZED BY
THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT IN ACCORD-
ANCE WITH THEIR SECTION 8 HOUSING PROGRAM; OR
  (II) IS OVER THE AGE OF SIXTY-FIVE; OR
  (III) IS DIAGNOSED BY A LICENSED PHYSICIAN TO  BE  MENTALLY  OR  PHYS-
ICALLY DISABLED;
  B.    DOES NOT CURRENTLY OWN A HOUSING UNIT IN THE CITY OF NEW YORK OR
ANY OTHER LOCATION, INCLUDING A SINGLE FAMILY HOUSE,  CONDOMINIUM  UNIT,
COOPERATIVE UNIT, OR RENTAL UNIT THAT COULD BE OWNER OCCUPIED;
  C.  HAS  NOT  PREVIOUSLY  RECEIVED  HOME OWNERSHIP ASSISTANCE PAYMENTS
PURSUANT TO THIS ARTICLE; AND
  D. IS CURRENTLY EMPLOYED AND HAS BEEN GAINFULLY EMPLOYED FOR AT  LEAST
TWELVE MONTHS PRIOR TO HIS OR HER APPLICATION FOR HOME OWNERSHIP ASSIST-
ANCE PAYMENTS, EXCEPT THAT THIS PARAGRAPH SHALL NOT APPLY TO AN INDIVID-
UAL  WHO QUALIFIES PURSUANT TO SUBPARAGRAPH (II) OR (III) OF PARAGRAPH A
OF THIS SUBDIVISION.
  4.  "QUALIFIED NOT-FOR-PROFIT ORGANIZATION" SHALL MEAN AN ORGANIZATION
THAT IS TAX EXEMPT PURSUANT TO SUBSECTION (C)  OF  SECTION  501  OF  THE
INTERNAL  REVENUE  CODE AND WHOSE PURPOSE IS TO ASSIST HOUSEHOLDS, WHOSE
INCOME IS UNDER  EIGHTY  PERCENT  OF  THE  MEDIAN  POVERTY  LEVEL,  WITH
PURCHASING  A  HOME. SUCH ORGANIZATION MUST SHOW EXPERIENCE AND CAPACITY
TO UNDERTAKE A PURCHASE FOR REHABILITATION AND TO  RESELL  TO  QUALIFIED
HOUSEHOLDS AS DEFINED IN SUBDIVISION THREE OF THIS SECTION.
  S  171.  HOME OWNERSHIP ASSISTANCE PROGRAM. 1.  THERE IS HEREBY ESTAB-
LISHED A HOME OWNERSHIP ASSISTANCE PROGRAM. THE PURPOSE OF  THE  PROGRAM
IS TO PROVIDE FINANCIAL ASSISTANCE TO LOW INCOME HOUSEHOLDS, WITH ANNUAL
INCOMES  UNDER  EIGHTY  PERCENT  OF  THE MEDIAN POVERTY LEVEL WHO DO NOT
CURRENTLY OWN A HOME, TO PURCHASE AN ELIGIBLE UNIT FOR PURPOSES OF REHA-
BILITATION AND OWNERSHIP.
  2. THE MAXIMUM PURCHASE PRICE SHALL  BE  THE  SINGLE  FAMILY  MORTGAGE
LIMITS  DEFINED  UNDER  24 C.F.R. 203 AND SHALL BE ADJUSTED ACCORDING TO
THE ADJUSTMENTS MADE BY THE UNITED  STATES  DEPARTMENT  OF  HOUSING  AND
URBAN DEVELOPMENT.
  3. THE UNIT MAY NOT BE "OVERCROWDED" AS DEFINED IN THE HOUSING QUALITY
STANDARDS,  WHICH  ARE ISSUED BY THE UNITED STATES DEPARTMENT OF HOUSING
AND URBAN DEVELOPMENT. A SUFFICIENT NUMBER OF BEDROOMS ARE  REQUIRED  TO
PROVIDE  ADEQUATE SLEEPING SPACE FOR ALL MEMBERS OF THE HOUSEHOLD. THERE
MUST BE ONE BEDROOM FOR EVERY TWO MEMBERS OF THE FAMILY,  PROVIDED  THAT
CHILDREN OF THE OPPOSITE SEX MAY NOT SHARE A BEDROOM.
  4. MONTHLY HOME OWNERSHIP EXPENSES SHALL INCLUDE INTEREST ON THE MORT-
GAGE,  MORTGAGE  INSURANCE  PREMIUMS,  REAL ESTATE TAXES, HOME OWNERSHIP
INSURANCE, AND MAJOR REPAIRS AND REPLACEMENTS.  HOUSING  EXPENSES  AFTER
THE  PURCHASE AND REHABILITATION OF A HOME MAY NOT EXCEED THIRTY PERCENT
OF THE HOUSEHOLD'S GROSS MONTHLY INCOME.
  S 172. APPLICABILITY OF THE PROGRAM. 1.  A  QUALIFIED  HOUSEHOLD  MUST
MAKE  AN APPLICATION TO THE DEPARTMENT TO RECEIVE HOME OWNERSHIP ASSIST-
ANCE PAYMENTS.
  2. THE DEPARTMENT SHALL APPROVE  AN  INDIVIDUAL'S  APPLICATION  IF  IT
FINDS THAT:
  A.  SUCH  INDIVIDUAL  IS  PART  OF A QUALIFIED HOUSEHOLD AS DEFINED IN
SUBDIVISION THREE OF SECTION ONE HUNDRED SEVENTY OF THIS ARTICLE;

S. 1384                             3

  B. THE HOME TO BE PURCHASED BY THE INDIVIDUAL IS AN ELIGIBLE  UNIT  AS
DEFINED  IN SUBDIVISION TWO OF SECTION ONE HUNDRED SEVENTY OF THIS ARTI-
CLE;
  C.  THE  HOME  TO  BE  PURCHASED  HAS  BEEN  INSPECTED BY A DEPARTMENT
APPROVED HOME INSPECTOR;
  D. THE HOME TO BE PURCHASED HAS BEEN APPRAISED  AT  A  VALUE  NEAR  OR
ABOVE  THE  MAXIMUM  PURCHASE  PRICE  AS  DEFINED  IN SUBDIVISION TWO OF
SECTION ONE HUNDRED SEVENTY-ONE OF THIS ARTICLE.  IF THE PURCHASE  PRICE
EXCEEDS  THE MAXIMUM PURCHASE PRICE, THE ELIGIBLE HOUSEHOLD MUST PAY THE
DIFFERENCE. THE ELIGIBLE HOUSEHOLD MUST GIVE THE FUNDS TO THE DEPARTMENT
AT THE CLOSING. THE DEPARTMENT WILL HOLD THE FUNDS IN AN INTEREST  BEAR-
ING ESCROW ACCOUNT AND MAKE PAYMENTS FROM SUCH ACCOUNT AS NECESSARY. ALL
ELIGIBLE  HOUSEHOLD  FUNDS  MUST  BE  EXPENDED BEFORE ANY HOME OWNERSHIP
ASSISTANCE PROGRAM PAYMENTS MAY BE MADE.
  3. UPON APPROVAL OF THE INDIVIDUAL'S APPLICATION, THE INDIVIDUAL  MUST
ATTEND  HOME  OWNERSHIP  ASSISTANCE  COUNSELING.  SUCH  COUNSELING SHALL
INCLUDE, BUT NEED NOT BE LIMITED TO:
  A. HOME MAINTENANCE;
  B. BUDGETING AND MONEY MANAGEMENT;
  C. CREDIT COUNSELING; AND
  D. HOW TO OBTAIN HOME OWNERSHIP FINANCING, INCLUDING HOW  TO  IDENTIFY
AND AVOID LOANS WITH OPPRESSIVE TERMS AND CONDITIONS.
  4. UPON COMPLETION OF THE HOME OWNERSHIP COUNSELING PURSUANT TO SUBDI-
VISION  THREE  OF THIS SECTION, THE DEPARTMENT SHALL MAKE HOME OWNERSHIP
ASSISTANCE PAYMENTS IN ACCORDANCE WITH SECTION ONE HUNDRED SEVENTY-THREE
OF THIS ARTICLE.
  5. THE REFINANCING OF A HOME THAT IS A BASIS FOR RECEIVING HOME OWNER-
SHIP ASSISTANCE PAYMENTS SHALL  AUTOMATICALLY  CAUSE  SUCH  PAYMENTS  TO
CEASE AND BE TERMINATED.
  6.  IF ANY QUALIFIED HOUSEHOLD THAT HAS BEEN APPROVED AND IS RECEIVING
HOME OWNERSHIP ASSISTANCE PAYMENTS DEFAULTS  ON  ITS  MORTGAGE  PAYMENT,
SUCH HOME OWNERSHIP ASSISTANCE PAYMENTS SHALL AUTOMATICALLY CEASE AND BE
TERMINATED.
  S  173.  AMOUNT  AND PROCEDURE FOR HOME OWNERSHIP ASSISTANCE PAYMENTS.
1. THE MAXIMUM FINANCIAL ASSISTANCE UNDER THE HOME OWNERSHIP  ASSISTANCE
PROGRAM  FOR  ELIGIBLE  HOUSEHOLDS  SHALL  NOT  EXCEED THE TOTAL COST OF
ACQUISITION AND REHABILITATION. THE ASSISTANCE PROVIDED FOR THE PURCHASE
OF THE PROPERTY SHALL BE A PRORATED LOAN. THE DEPARTMENT  WILL  PLACE  A
MORTGAGE ON THE PROPERTY TO SECURE THE LOAN. THE MORTGAGEE MAY BE SUBOR-
DINATED  TO ANY OTHER MORTGAGEE APPROVED BY THE DEPARTMENT THAT IS PRES-
ENTLY ON OR THAT MAY BE PLACED ON THE PROPERTY.
  THE DEPARTMENT SHALL HAVE THE RIGHT TO DETERMINE  WHETHER  OR  NOT  AN
IMPROVEMENT QUALIFIES AS CAPITAL IMPROVEMENTS. PRIOR TO THE COMMENCEMENT
OF  CAPITAL  IMPROVEMENTS, THE PROPERTY OWNER MUST NOTIFY THE DEPARTMENT
AND PROVIDE A COST ESTIMATE. THE DEPARTMENT  SHALL  HAVE  THE  RIGHT  TO
INSPECT  THE  PROPERTY PRIOR TO AND UPON COMPLETION OF CONSTRUCTION. THE
PROPERTY OWNER MUST PROVIDE DOCUMENTATION OF ALL WORK PERFORMED.
  2. THE MAXIMUM ASSISTANCE FOR QUALIFIED NOT-FOR-PROFIT  ORGANIZATIONS,
AS  DEFINED  IN  SUBDIVISION FOUR OF SECTION ONE HUNDRED SEVENTY OF THIS
ARTICLE, MAY NOT EXCEED TWENTY THOUSAND DOLLARS PER BUILDING.
  3. THE PROPERTY MAY BE SOLD SUBJECT TO THE FOLLOWING CONDITIONS:
  A. THE MAXIMUM SALE PRICE WILL BE DETERMINED BY THE FOLLOWING FORMULA:
THE ORIGINAL SUBSIDIZED PRICE OF THE HOME MULTIPLIED BY A FRACTION WHERE
THE NUMERATOR IS THE MEDIAN INCOME FOR A FAMILY OF FOUR IN NEW YORK CITY
IN THE YEAR OF THE RESALE  AND  THE  DENOMINATOR  IS  THE  CORRESPONDING
FIGURE  FOR  THE  YEAR THE PROPERTY WAS PURCHASED. BOTH NUMBERS SHALL BE

S. 1384                             4

DETERMINED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOP-
MENT.
  B.  THE  OWNER'S  DOWN  PAYMENT  AND  THE  VALUE OF QUALIFYING CAPITAL
IMPROVEMENTS MAY BE  ADDED  TO  THE  MAXIMUM  RESALE  PRICE.  QUALIFYING
IMPROVEMENTS ARE THOSE DEFINED AND APPLIED BY THE NEW YORK STATE DEPART-
MENT  OF  TAXATION AND FINANCE THAT DO NOT CONSTITUTE UNAFFORDABLE LUXU-
RIES DEFINED AS ITEMS NOT NORMALLY CONSIDERED A NECESSARY  OR  CUSTOMARY
PART  OF  A  RESIDENCE  IN  THE SURROUNDING NEIGHBORHOOD. THE DEPARTMENT
SHALL HAVE THE RIGHT TO DETERMINE WHETHER OR NOT AN  IMPROVEMENT  QUALI-
FIES  AS  CAPITAL  IMPROVEMENTS.  PRIOR  TO  THE COMMENCEMENT OF CAPITAL
IMPROVEMENTS, THE PROPERTY OWNER MUST NOTIFY THE DEPARTMENT AND  PROVIDE
A  COST  ESTIMATE.  THE  DEPARTMENT  SHALL HAVE THE RIGHT TO INSPECT THE
PROPERTY PRIOR TO AND UPON  COMPLETION  OF  CONSTRUCTION.  THE  PROPERTY
OWNER MUST PROVIDE DOCUMENTATION OF ALL WORK PERFORMED.
  S 174. TERMS OF ASSISTANCE FOR NOT-FOR-PROFIT ORGANIZATIONS. FINANCIAL
ASSISTANCE AS DEFINED IN SECTION ONE HUNDRED SEVENTY-THREE OF THIS ARTI-
CLE  MAY  BE PROVIDED TO NOT-FOR-PROFIT ORGANIZATIONS FOR THE PURPOSE OF
RESALE TO QUALIFIED  HOUSEHOLDS  AS  DEFINED  IN  SUBDIVISION  THREE  OF
SECTION ONE HUNDRED SEVENTY OF THIS ARTICLE.
  1.  THE  NOT-FOR-PROFIT ORGANIZATION MAY MANAGE THE PROPERTY DURING AN
INTERIM PERIOD UNDER A "LEASE TO OWN" PROGRAM BEFORE TRANSFERRING  TITLE
TO THE PROPERTY AND MUST SUBMIT COMPLETE DEVELOPMENT AND OPERATING BUDG-
ETS FOR THE INTERIM TO THE DEPARTMENT.
  A.  AN ELIGIBLE "LEASE TO OWN" PURCHASER MUST BE LOCATED WITHIN TWELVE
MONTHS FROM PURCHASE BY THE NOT-FOR-PROFIT ORGANIZATION.
  B. THE INITIAL OCCUPANT OF THE OWNER'S UNIT, WHETHER A TENANT DURING A
RENTAL AGREEMENT, TENANT DURING A LEASE TO OWN PERIOD,  OR  HOME  BUYER,
MUST  QUALIFY  AS  AN ELIGIBLE HOUSEHOLD. FIFTY-ONE PERCENT OF THE UNITS
MUST BE OCCUPIED AT INITIAL  OCCUPANCY  BY  HOUSEHOLDS  WHOSE  HOUSEHOLD
INCOME IS LESS THAN EIGHTY PERCENT OF THE MEDIAN POVERTY LEVEL.
  C.  RENT,  INCLUDING  UTILITIES,  FOR  A HOUSEHOLD WHERE THE HOUSEHOLD
INCOME IS BETWEEN FIFTY AND EIGHTY PERCENT OF THE MEDIAN  POVERTY  LEVEL
CANNOT EXCEED THIRTY PERCENT OF THE HOUSEHOLD MONTHLY INCOME. IF TENANTS
PAY  UTILITIES,  THE  RENT SHALL BE ADJUSTED BY THE AMOUNT OF THE UTILI-
TIES.
  D. NOT-FOR-PROFIT ORGANIZATIONS MUST SUBMIT A PROPOSED RESALE  PROCESS
OR FORMULA FOR DEPARTMENTAL REVIEW AND APPROVAL.
  E.  IN  ALL  CASES,  TRANSFER  OF  TITLE  TO  THE  PROPERTY  FROM  THE
NOT-FOR-PROFIT ORGANIZATION TO AN ELIGIBLE  HOUSEHOLD  MUST  TAKE  PLACE
WITHIN FIVE YEARS FROM PURCHASE BY THE NOT-FOR-PROFIT ORGANIZATION.
  F.  IF  THE NOT-FOR-PROFIT ORGANIZATION FAILS TO MEET THESE DEADLINES,
THE DEFERRED LOAN SHALL BE DUE AND PAYABLE WITH ACCRUED  INTEREST  AT  A
RATE OF FOUR PERCENT.
  S  175.  RULES  AND  REGULATIONS.  1.  THE DEPARTMENT IS AUTHORIZED TO
IMPLEMENT ANY RULE OR REGULATION NECESSARY FOR THE SUCCESSFUL  IMPLEMEN-
TATION OF THIS PROGRAM.
  2.  THE  DEPARTMENT  MAY  CREATE ANY FORM AND REQUIRE ANY APPLICANT TO
FILL OUT SUCH FORM BEFORE RECEIVING DEPARTMENTAL APPROVAL FOR  THE  HOME
OWNERSHIP ASSISTANCE PAYMENTS.
  3.  THE DEPARTMENT MAY CHARGE AN APPLICATION FEE FOR THE PROCESSING OF
A HOUSEHOLD'S HOME OWNERSHIP ASSISTANCE PAYMENT  APPLICATION.  SUCH  FEE
SHALL NOT EXCEED ONE HUNDRED DOLLARS.
  S  176.    FUNDING  FOR THE HOME OWNERSHIP ASSISTANCE PROGRAM. FUNDING
SHALL BE OBTAINED BY USING FUNDS FROM THE  COMMUNITY  DEVELOPMENT  BLOCK
GRANT  AND  THE  NEW  YORK  STATE HOME PROGRAM. TWO PERCENT OF THE TOTAL

S. 1384                             5

AMOUNT OF EACH, RESPECTIVELY, SHALL BE USED TO FUND THE  HOME  OWNERSHIP
ASSISTANCE PROGRAM.
  S 2. This act shall take effect on the one hundred eightieth day after
it shall have become a law; provided, however, that effective immediate-
ly,  the  addition,  amendment  and/or  repeal of any rule or regulation
necessary for the timely implementation of this  act  on  its  effective
date  is  hereby  authorized  and  directed to be made on or before such
effective date.

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