|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to housing, construction and community development|
|Jan 07, 2011||referred to housing, construction and community development|
senate Bill S1384
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1384 - Details
S1384 - Summary
Establishes the home ownership assistance program; allows qualified individuals to receive home ownership assistance payments when they purchase an eligible home; defines who is eligible for such assistance payments and how much those assistance payments will be.
S1384 - Sponsor Memo
BILL NUMBER:S1384 TITLE OF BILL: An act to amend the public housing law, in relation to creating a home ownership assistance program PURPOSE: To promote home ownership by providing assistance to persons with an annual household income under eighty percent of the median poverty level toward purchasing a home, condominium or cooperative. SUMMARY OF PROVISIONS: Amends the Public Housing Law by adding a new Article IX entitled the "Home Ownership Assistance Program." The following new sections are created in this new article: - §170 allows for the creation of the Home Ownership Program within the New York City Department of Housing Preservation and Development (HPD). It also defines the terms "eligible unit," "qualified household," and "qualified not-for-profit." A qualified household is any person or family with an annual household income under eighty percent of the median poverty level who has been employed for more than twelve months. Persons over the age of
S1384 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1384 2011-2012 Regular Sessions I N S E N A T E January 7, 2011 ___________ Introduced by Sens. PERKINS, DIAZ, DILAN, DUANE, HASSELL-THOMPSON, PARK- ER, SMITH -- 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 public housing law, in relation to creating a home ownership assistance program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The public housing law is amended by adding a new article 9 to read as follows: ARTICLE IX HOME OWNERSHIP ASSISTANCE PROGRAM SECTION 170. DEFINITIONS. 171. HOME OWNERSHIP ASSISTANCE PROGRAM. 172. APPLICABILITY OF THE PROGRAM. 173. AMOUNT AND PROCEDURE FOR HOME OWNERSHIP ASSISTANCE PAYMENTS. 174. TERMS OF ASSISTANCE FOR NOT-FOR-PROFIT ORGANIZATIONS. 175. RULES AND REGULATIONS. 176. FUNDING FOR THE HOME OWNERSHIP ASSISTANCE PROGRAM. S 170. DEFINITIONS. FOR PURPOSES OF THIS ARTICLE, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: 1. "DEPARTMENT" SHALL MEAN THE NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT. 2. "ELIGIBLE UNIT" SHALL MEAN: A. ANY (I) HOME WITH FOUR OR LESS UNITS; (II) CONDOMINIUM; OR (III) COOPERATIVE; B. WHERE THE PURCHASE OF SUCH HOME, CONDOMINIUM, OR COOPERATIVE IS PROVIDED FOR, INSURED, OR GUARANTEED BY THE STATE OR FEDERAL GOVERNMENT. 3. "QUALIFIED HOUSEHOLD" SHALL MEAN ANY PERSON OR HIS OR HER FAMILY MEMBER WHO: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD03424-01-1
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