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Senate Bill S1014

2009-2010 Legislative Session

Specifies certain items be included in annual report of housing companies

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Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee

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2009-S1014 (ACTIVE) - Details

Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §§32, 32-b & 84, Priv Hous Fin L
Versions Introduced in 2011-2012 Legislative Session:
S2113

2009-S1014 (ACTIVE) - Summary

Requires limited-profit and limited-dividend housing companies to include information on tax abatement and exemption in their annual reports.

2009-S1014 (ACTIVE) - Sponsor Memo

2009-S1014 (ACTIVE) - Bill Text download pdf 

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

                                  1014

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            January 22, 2009
                               ___________

Introduced  by  Sen.  KRUGER -- 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 annual
  reports of limited profit and limited-dividend housing companies

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

  Section  1. Subdivision 2 of section 32 of the private housing finance
law, as separately amended as subdivision 2 of section 319 of the public
housing law by chapters 132 and 544 of the laws of 1961, is  amended  to
read as follows:
  2.    Require  every  company  to file with him or it an annual report
setting forth such information as the commissioner  or  the  supervising
agency  may  require,  INCLUDING  TAX EXEMPTION LEVELS AND THE DATE UPON
WHICH ANY TAX ABATEMENT OR EXEMPTION IS SCHEDULED TO EXPIRE, verified by
the oath of any officer, general manager or other person in  control  of
the  company.    Such  report shall be in a form, cover a period, and be
filed at a time as prescribed by the  commissioner  or  the  supervising
agency.
  S  2.  Section  32-b  of  the private housing finance law, as added by
chapter 216 of the laws of 1978, is amended to read as follows:
  S 32-b.  Annual reports.   The commissioner shall, on  or  before  the
first  day  of  July in each year, submit a report to the legislature on
the implementation of article two of this chapter  by  the  commissioner
and the supervising agency and the policy included therein.  Such report
shall  include  and  not  be limited to rent and carrying charge levels,
changes therein, operation of the state capital grant program and feder-
al subsidy programs, tax abatement OR EXEMPTION  levels,  INCLUDING  THE
DATE  WHICH ANY TAX ABATEMENT OR EXEMPTION IS SCHEDULED TO EXPIRE, total
capital  outlay,  amortization,  mortgage  interest rates, income levels
served by the housing, surcharge billings and  collections  and  use  of

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06795-01-9

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