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Senate Bill S8501

2009-2010 Legislative Session

Relates to determining eligibility for admission to certain limited-profit housing company housing accommodations

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Archive: Last Bill Status - In Senate Committee Rules Committee

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2009-S8501 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
Private Housing Finance Law
Laws Affected:
Amd ยง31, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2011-2012: S524
2013-2014: S226

2009-S8501 (ACTIVE) - Summary

Relates to determining eligibility for admission to certain limited-profit housing company housing accommodations.

2009-S8501 (ACTIVE) - Sponsor Memo

2009-S8501 (ACTIVE) - Bill Text download pdf 

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

                                  8501

                            I N  S E N A T E

                            October 18, 2010
                               ___________

Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
  printed to be committed to the Committee on Rules

AN ACT to amend the private housing finance law, in relation  to  deter-
  mining  eligibility  for  admission  to certain limited-profit housing
  company accommodations

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

  Section 1. Paragraph (e) of subdivision 2 of section 31 of the private
housing  finance  law,  as  added by chapter 729 of the laws of 1974, is
amended to read as follows:
  (e) Notwithstanding the provisions of this subdivision, families [with
two or more dependents] whose probable aggregate annual income does  not
exceed  one  hundred twenty-five percent of the limitations as to income
as determined pursuant to paragraphs (a) and (b)  of  this  subdivision,
shall also be eligible for admission to the dwelling or non-housekeeping
accommodations  without board of a project on the understanding that any
family becoming eligible for admission by reason hereof shall pay,  from
the time of admission, a rental surcharge as provided for in subdivision
three  of  this section, computed on the basis of the income limitations
applicable to such family in the absence of this subdivision. In  apply-
ing  the  provisions  of  subdivision  three OF THIS SECTION to a family
becoming  eligible  by  reason  of  this  section,  the  maximum  income
prescribed  by  law for admission or occupancy shall for all purposes be
computed without reference to this paragraph.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD18156-01-0

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