S T A T E   O F   N E W   Y O R K
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                                  2941

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 21, 2011
                               ___________

Introduced  by M. of A. CYMBROWITZ, PHEFFER -- read once and referred to
  the Committee on Housing

AN ACT to amend the private housing finance  law,  in  relation  to  the
  income limits applicable to residents of limited-profit housing compa-
  nies 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. Paragraph (a) of subdivision 2 of section 31 of the private
housing finance law, as amended by chapter 260 of the laws of  1996,  is
amended to read as follows:
  (a) The dwelling or non-housekeeping accommodations without board in a
company project shall be available for persons or families of low income
whose  probable  aggregate  annual  income  at the time of admission and
during the period of occupancy does not exceed, the greater of  (i)  the
median  income for such persons or families for the metropolitan statis-
tical area in which the project is located, or if a project  is  located
outside  a  metropolitan  statistical  area,  the median income for such
persons or families for the county in which the project is  located,  as
most  recently determined by the United States department of housing and
urban development, in which case any person or family becoming  eligible
for  admission pursuant to this subparagraph 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 persons or families in the absence of this subparagraph, or (ii)
[seven]  EIGHT  times the rental, including the value or cost to them of
heat, light, water and cooking  fuel,  of  the  dwellings  that  may  be
furnished to such persons or families[, except that in the case of fami-
lies with three or more dependents, such ratio shall not exceed eight to
one].  The  "probable  aggregate  annual income" in the case of dwelling
accommodations means the annual income of the chief wage earner  of  the
family,  plus  all  other income of other members of the family over the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07764-01-1
              

A. 2941                             2

age of twenty-one years,  plus  a  proportion  of  income  of  gainfully
employed members under the age of twenty-one years, the proportion to be
determined  by the company as approved by the commissioner or the super-
vising  agency,  as  the case may be, excluding therefrom a deduction of
fifteen thousand dollars from the income of secondary  wage  earners  of
the  family or a larger deduction if approved by the commissioner or the
supervising agency, as the case may be,  except  that  the  company,  as
approved  by the commissioner or the supervising agency, as the case may
be, may exclude a proportion of the income of other members of the fami-
ly over the age of twenty-one  years  for  the  purpose  of  determining
eligibility  for  admission  or continued occupancy, or for establishing
the rental of such family, or for all such purposes; in the case of such
non-housekeeping accommodations it means the annual income of the  occu-
pant,  provided that the commissioner or supervising agency, as the case
may be, may make rules and regulations relative to the allocation of the
income of a family among the members thereof for the purpose  of  deter-
mining the income attributable to such occupant.
  S 2. Paragraph (e) of subdivision 2 of section 31 of the private hous-
ing 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, PERSONS OR
families [with two or more dependents] whose probable  aggregate  annual
income  does  not  exceed one hundred [twenty-five] FIFTY 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 PERSON OR 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
PERSON  OR  family  in  the absence of this subdivision. In applying the
provisions of subdivision three OF THIS SECTION to a  PERSON  OR  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  3.  Paragraphs  (a) and (b) of subdivision 1 of section 85-a of the
private housing finance law, paragraph (a) as amended by chapter 836  of
the  laws  of 1985 and paragraph (b) as added by chapter 379 of the laws
of 1964, are amended to read as follows:
  (a) If such project was completed or acquired on or after July  first,
nineteen  hundred  fifty-five,  for  persons  or families whose probable
aggregate annual income at the time of admission does not exceed [seven]
EIGHT times the rental (including the value or cost  to  them  of  heat,
light,  water  and  cooking  fuel) of the dwellings to be furnished such
persons or families[, except that in the case  of  persons  or  families
with  three  or  more  dependents,  such ratio shall not exceed eight to
one];
  (b) If such project  was  completed  prior  to  July  first,  nineteen
hundred  fifty-five,  for  persons  or families whose probable aggregate
annual income at the time of admission does  not  exceed  [seven]  EIGHT
times  the  rental  (including the value or cost to them of heat, light,
water and cooking fuel) of the dwellings to be furnished such persons or
families[, except that in the case of persons or families with three  or
more dependents, such ratio shall not exceed eight to one];

A. 2941                             3

  S  4.  Paragraphs  (a) and (b) of subdivision 2 of section 85-a of the
private housing finance law, as amended by chapter 566 of  the  laws  of
1993, are amended to read as follows:
  (a)  In  the case of such projects constructed or acquired on or after
July first, nineteen hundred fifty-five, for such  persons  or  families
whose  probable  aggregate  annual income during the period of occupancy
does not exceed, the greater of (i) the median income for  such  persons
or  families  for the metropolitan statistical area in which the project
is located, or if a project is located outside  a  metropolitan  statis-
tical area, the median income for such persons or families for the coun-
ty  in  which the project is located, as most recently determined by the
United States department of housing and urban development, in which case
any person or family becoming eligible for admission  pursuant  to  this
subparagraph  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 persons or families
in the absence of this subparagraph, or (ii)  [seven]  EIGHT  times  the
rental  (including  the  value or cost to them of heat, light, water and
cooking fuel) of the dwellings to be furnished  such  persons  or  fami-
lies[, except that in the case of persons or families with three or more
dependents,  such  ratio shall not exceed eight to one]. For the purpose
of determining the eligibility of tenant cooperators in a mutual housing
company project, there shall be  added  to  the  total  annual  carrying
charges  an amount equal to six per centum of the investment of a person
or family in the equity obligations of such housing company and, to  the
extent  authorized  by the commissioner or the supervising agency as the
case may be, the value or cost to them of repainting and the replacement
of fixtures and appliances;
  (b) In the case of such projects  constructed  prior  to  July  first,
nineteen hundred fifty-five, for such persons or families whose probable
aggregate  annual income during the period of occupancy does not exceed,
the greater of (i) the median income for such persons  or  families  for
the metropolitan statistical area in which the project is located, or if
a project is located outside a metropolitan statistical area, the median
income  for such persons or families for the county in which the project
is located, as most recently determined by the United States  department
of  housing  and  urban  development, in which case any person or family
becoming eligible for admission pursuant to this subparagraph shall pay,
from the time of admission, a rental surcharge as provided for in subdi-
vision three of this section, computed on the basis of the income  limi-
tations  applicable  to  such persons or families in the absence of this
subparagraph, or (ii) [seven] EIGHT  times  the  rental  (including  the
value  or  cost  to  them of heat, light, water and cooking fuel) of the
dwellings to be furnished such persons or families[, except that in  the
case  of  persons  or families with three or more dependents, such ratio
shall not  exceed  eight  to  one];  provided,  however,  that,  in  the
discretion  of  the  commissioner upon application of the mutual housing
company, the income limitations set  forth  in  paragraph  (a)  of  this
subdivision  shall  be  applicable  to such projects, and, in such case,
investment in the equity obligations of  such  housing  companies  shall
include:    the  value  of  the stock of said housing company at time of
purchase; all moneys paid towards the rental of the dwellings which  are
allocated  to the reduction of the principal amount of the mortgage loan
secured by a mortgage lien on the real property of the housing  company;
and all accruals to equity, approved by the commissioner, resulting from
capital improvements;

A. 2941                             4

  S 5. Subdivision 8 of section 85-a of the private housing finance law,
as  added  by  chapter  729  of  the laws of 1974, is amended to read as
follows:
  8. Notwithstanding the provisions of this section, persons or families
[with  two  or  more  dependents] whose probable aggregate annual income
does not exceed one hundred [twenty-five] FIFTY percent of  the  limita-
tions  as  to  income  applicable without reference to this subdivision,
shall also be eligible for admission to the project on the understanding
that any person or family becoming eligible by reason hereof, shall  pay
from  the  time of admission a rental surcharge computed on the basis of
the income ratios applicable to such person or family in the absence  of
this  subdivision.  In applying the provisions of paragraphs (c) and (d)
of subdivision one and of paragraph  (d)  of  subdivision  two  of  this
section to a family becoming eligible by reason of this subdivision, the
"ratio  prescribed  by law" shall mean such ratio as would be prescribed
in the absence of this subdivision.
  S 6. This act shall take effect on the ninetieth day  after  it  shall
have become a law.