Assembly Bill A5095

2013-2014 Legislative Session

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

download bill text pdf

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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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2013-A5095 (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:
2009-2010: A6849
2011-2012: A3738

2013-A5095 (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.

2013-A5095 (ACTIVE) - Bill Text download pdf

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

                                  5095

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                            February 20, 2013
                               ___________

Introduced  by  M.  of  A.  CAMARA,  CASTRO,  ROBINSON  -- 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.
                                                           LBD07394-01-3
              

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