Senate Bill S2985

Signed By Governor
2023-2024 Legislative Session

Enacts the "housing affordability, resiliency, and energy efficiency investment act of 2023"

download bill text pdf

Sponsored By

Current Bill Status - Signed by Governor


  • 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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Bill Amendments

co-Sponsors

2023-S2985 - Details

Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 32 §§1290 - 1297, Priv Hous Fin L; amd §11.00, Loc Fin L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7782
2021-2022: S2731

2023-S2985 - Summary

Enacts the "housing affordability, resiliency, and energy efficiency investment act"; relates to the modernization of affordable housing financing authorities that authorize financing for the construction and rehabilitation of affordable housing.

2023-S2985 - Sponsor Memo

2023-S2985 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2985
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 26, 2023
                                ___________
 
 Introduced  by  Sens.  KAVANAGH,  CLEARE,  SEPULVEDA  --  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 and the local finance
   law, in relation to affordable housing in cities having  a  population
   of one million or more
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The private housing finance law is amended by adding a  new
 article 32 to read as follows:
                               ARTICLE XXXII
                        AFFORDABILITY PLUS PROGRAM
 SECTION 1290. SHORT TITLE.
         1291. STATEMENT OF LEGISLATIVE FINDINGS AND PURPOSE.
         1292. DEFINITIONS.
         1293. LOANS AND GRANTS.
         1294. RENTS.
         1295. RULES; ENFORCEMENT.
         1296. SEVERABILITY.
         1297. REPORTING.
   §  1290.  SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
 THE "AFFORDABILITY  PLUS PROGRAM".
   § 1291. STATEMENT OF LEGISLATIVE FINDINGS AND PURPOSE. THE LEGISLATURE
 HEREBY FINDS AND DECLARES THAT THERE IS, IN CITIES HAVING  A  POPULATION
 OF  ONE MILLION OR MORE, A SERIOUSLY INADEQUATE SUPPLY OF SAFE AND SANI-
 TARY HOUSING ACCOMMODATIONS WITHIN THE FINANCIAL REACH OF  FAMILIES  AND
 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 SUCH CITIES. THE LEGISLATURE FURTHER FINDS AND  DECLARES  THAT
 THE ORDINARY OPERATIONS OF PRIVATE ENTERPRISE CANNOT PROVIDE AN ADEQUATE
 SUPPLY  OF  SAFE  AND SANITARY HOUSING ACCOMMODATIONS AT RENTAL AND SALE

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07187-01-3
              

co-Sponsors

2023-S2985A - Details

Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 32 §§1290 - 1297, Priv Hous Fin L; amd §11.00, Loc Fin L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7782
2021-2022: S2731

2023-S2985A - Summary

Enacts the "housing affordability, resiliency, and energy efficiency investment act"; relates to the modernization of affordable housing financing authorities that authorize financing for the construction and rehabilitation of affordable housing.

2023-S2985A - Sponsor Memo

2023-S2985A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2985--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 26, 2023
                                ___________
 
 Introduced by Sens. KAVANAGH, CLEARE, FERNANDEZ, SEPULVEDA -- 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 committee

 AN ACT to amend the general municipal law, the local  finance  law,  the
   private  housing  finance  law,  and  the  New  York  city charter, in
   relation to enacting the "housing affordability, resiliency, and ener-
   gy efficiency investment act of 2023"
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "housing affordability, resiliency, and energy efficiency investment
 act of 2023".
   § 2. Paragraphs a, c and g of subdivision 1 of section  696-a  of  the
 general  municipal  law,  as amended by chapter 320 of the laws of 1999,
 are amended to read as follows:
   a. Notwithstanding the provisions of any  general,  special  or  local
 law,  an  agency is hereby authorized to make or contract to make grants
 or loans to the owner of any property that is part of an urban  develop-
 ment  action  area  project  for the purpose of (i) rehabilitation of an
 existing private or multiple dwelling OR CONSTRUCTION OF A  NEW  PRIVATE
 OR  MULTIPLE  DWELLING,  (ii) providing site improvements, INCIDENTAL OR
 APPURTENANT TO SUCH REHABILITATION  OR  SUCH  CONSTRUCTION,  WITHIN  THE
 URBAN DEVELOPMENT ACTION AREA IN WHICH THE URBAN DEVELOPMENT ACTION AREA
 PROJECT  IS  LOCATED,  including,  but  not  limited to, water and sewer
 facilities, sidewalks, landscaping, PARKS AND OPEN SPACE, SOCIAL, RECRE-
 ATIONAL, COMMUNAL AND OTHER NON-RESIDENTIAL FACILITIES AND  THE  OUTFIT-
 TING THEREOF, the curing of problems caused by abnormal site conditions,
 excavation  and  construction  of  footings  and  foundations  and other
 improvements associated with the provision of infrastructure,  or  (iii)
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07187-03-3
              

co-Sponsors

2023-S2985B - Details

Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 32 §§1290 - 1297, Priv Hous Fin L; amd §11.00, Loc Fin L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7782
2021-2022: S2731

2023-S2985B - Summary

Enacts the "housing affordability, resiliency, and energy efficiency investment act"; relates to the modernization of affordable housing financing authorities that authorize financing for the construction and rehabilitation of affordable housing.

2023-S2985B - Sponsor Memo

2023-S2985B - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2985--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 26, 2023
                                ___________
 
 Introduced by Sens. KAVANAGH, CLEARE, FERNANDEZ, SEPULVEDA -- 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 committee  --  committee  discharged,  bill  amended,  ordered
   reprinted as amended and recommitted to said committee
 
 AN  ACT  to  amend the general municipal law, the local finance law, the
   private housing finance  law,  and  the  New  York  city  charter,  in
   relation to enacting the "housing affordability, resiliency, and ener-
   gy efficiency investment act of 2023"
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Short title. This act shall be known and may  be  cited  as
 the "housing affordability, resiliency, and energy efficiency investment
 act of 2023".
   §  2.  Paragraphs  a, c and g of subdivision 1 of section 696-a of the
 general municipal law, as amended by chapter 320 of the  laws  of  1999,
 are amended to read as follows:
   a.  Notwithstanding  the  provisions  of any general, special or local
 law, an agency is hereby authorized to make or contract to  make  grants
 or  loans to the owner of any property that is part of an urban develop-
 ment action area project for the purpose of  (i)  rehabilitation  of  an
 existing  private  or multiple dwelling OR CONSTRUCTION OF A NEW PRIVATE
 OR MULTIPLE DWELLING, (ii) providing site  improvements,  INCIDENTAL  OR
 APPURTENANT  TO  SUCH  REHABILITATION  OR  SUCH CONSTRUCTION, WITHIN THE
 URBAN DEVELOPMENT ACTION AREA IN WHICH THE URBAN DEVELOPMENT ACTION AREA
 PROJECT IS LOCATED, including, but  not  limited  to,  water  and  sewer
 facilities, sidewalks, landscaping, PARKS AND OPEN SPACE, SOCIAL, RECRE-
 ATIONAL,  COMMUNAL  AND OTHER NON-RESIDENTIAL FACILITIES AND THE OUTFIT-
 TING THEREOF, the curing of problems caused by abnormal site conditions,
 excavation and  construction  of  footings  and  foundations  and  other
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07187-04-3
              

co-Sponsors

2023-S2985C (ACTIVE) - Details

Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 32 §§1290 - 1297, Priv Hous Fin L; amd §11.00, Loc Fin L
Versions Introduced in Other Legislative Sessions:
2019-2020: S7782
2021-2022: S2731

2023-S2985C (ACTIVE) - Summary

Enacts the "housing affordability, resiliency, and energy efficiency investment act"; relates to the modernization of affordable housing financing authorities that authorize financing for the construction and rehabilitation of affordable housing.

2023-S2985C (ACTIVE) - Sponsor Memo

2023-S2985C (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2985--C
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 26, 2023
                                ___________
 
 Introduced by Sens. KAVANAGH, CLEARE, FERNANDEZ, SEPULVEDA -- 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 committee  --  committee  discharged,  bill  amended,  ordered
   reprinted  as  amended  and  recommitted to said committee -- reported
   favorably from said  committee  and  committed  to  the  Committee  on
   Finance  --  committee  discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the general municipal law, the local  finance  law,  the
   private  housing  finance  law,  and  the  New  York  city charter, in
   relation to enacting the "housing affordability, resiliency, and ener-
   gy efficiency investment act of 2023"
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Short  title. This act shall be known and may be cited as
 the "housing affordability, resiliency, and energy efficiency investment
 act of 2023".
   § 2. Paragraphs a, c and g of subdivision 1 of section  696-a  of  the
 general  municipal  law,  as amended by chapter 320 of the laws of 1999,
 are amended to read as follows:
   a. Notwithstanding the provisions of any  general,  special  or  local
 law,  an  agency is hereby authorized to make or contract to make grants
 or loans to the owner of any property that is part of an urban  develop-
 ment  action  area  project  for the purpose of (i) rehabilitation of an
 existing private or multiple dwelling OR CONSTRUCTION OF A  NEW  PRIVATE
 OR  MULTIPLE  DWELLING,  (ii) providing site improvements, INCIDENTAL OR
 APPURTENANT TO SUCH REHABILITATION  OR  SUCH  CONSTRUCTION,  WITHIN  THE
 URBAN DEVELOPMENT ACTION AREA IN WHICH THE URBAN DEVELOPMENT ACTION AREA
 PROJECT  IS  LOCATED,  including,  but  not  limited to, water and sewer
 facilities, sidewalks, landscaping, PARKS AND OPEN SPACE, SOCIAL, RECRE-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07187-05-3
              

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