senate Bill S6553

Signed by Governor

Relates to certain contracts for rural area revitalization contracts

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Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor
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actions

  • 27 / Feb / 2012
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
  • 19 / Mar / 2012
    • 1ST REPORT CAL.371
  • 20 / Mar / 2012
    • 2ND REPORT CAL.
  • 21 / Mar / 2012
    • ADVANCED TO THIRD READING
  • 17 / Apr / 2012
    • PASSED SENATE
  • 17 / Apr / 2012
    • DELIVERED TO ASSEMBLY
  • 17 / Apr / 2012
    • REFERRED TO WAYS AND MEANS
  • 07 / May / 2012
    • SUBSTITUTED FOR A8081
  • 07 / May / 2012
    • ORDERED TO THIRD READING CAL.516
  • 07 / May / 2012
    • PASSED ASSEMBLY
  • 07 / May / 2012
    • RETURNED TO SENATE
  • 21 / May / 2012
    • DELIVERED TO GOVERNOR
  • 31 / May / 2012
    • SIGNED CHAP.63

Summary

Provides that up to ten percent of the program or project cost may be used for the qualified applicant's operating expenses, including expenses related to organization operating support and administration of the contracts for rural area revitalization projects.

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Bill Details

See Assembly Version of this Bill:
A8081
Versions:
S6553
Legislative Cycle:
2011-2012
Law Section:
Private Housing Finance Law
Laws Affected:
Amd ยง1053, Priv Hous Fin L
Versions Introduced in Previous Legislative Cycles:
2009-2010: A3036, A3036
2007-2008: A1058, A1058

Sponsor Memo

BILL NUMBER:S6553

TITLE OF BILL:

An act
to amend the private housing finance law, in relation to certain
contracts for rural area revitalization projects

PURPOSE:

This bill would allow for a percentage of project costs of a rural
area revitalization project to be used for administrative expenses of
the not-for-profit.

SUMMARY OF PROVISIONS:

This bill would allow up to ten percent of the project costs of a
rural area revitalization project to be used for administrative
expenses of the not-for-profit grantee.

JUSTIFICATION:

This legislation would assist with the administration and operation of
NYS Housing programs and provide for increased program efficiencies.

LEGISLATIVE HISTORY:

This is a new bill for 2012 in the Senate.
A.3036 of 2010/2011: Passed Assembly
A.1058 of 2007/2008: Passed Assembly
A.11675 of 2006: Passed Assembly

FISCAL IMPLICATIONS:
None.

EFFECTIVE DATE:

This act shall take effect immediately.

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

                                  6553

                            I N  S E N A T E

                            February 27, 2012
                               ___________

Introduced  by  Sen.  YOUNG  -- 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 certain
  contracts for rural area revitalization projects

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

  Section  1.  Subdivision  3  of  section  1053  of the private housing
finance law, as amended by chapter 166 of the laws of 1991,  is  amended
to read as follows:
  3. Each contract pursuant to this section shall provide for payment by
the  corporation  for  the  activities to be carried out pursuant to the
contract. Such payment shall be based on the  projected  costs  of  such
activities  and  the  other sources of funding which may be available to
the applicant (including, if applicable,  funding  pursuant  to  article
seventeen  of  this  chapter)  from any source. UP TO TEN PERCENT OF THE
PROGRAM OR PROJECT COST MAY BE USED FOR THE QUALIFIED APPLICANT'S  OPER-
ATING  EXPENSES  INCLUDING  EXPENSES  RELATED  TO ORGANIZATION OPERATING
SUPPORT AND ADMINISTRATION OF THE  CONTRACT.  The  total  state  payment
pursuant  to  any  one  contract  shall  not exceed two hundred thousand
dollars.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11704-01-1

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