senate Bill S2506

2011-2012 Legislative Session

Creates a veteran's home and land ownership loan program

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 21, 2012 committed to rules
May 30, 2012 advanced to third reading
May 23, 2012 2nd report cal.
May 22, 2012 1st report cal.894
Jan 04, 2012 referred to veterans, homeland security and military affairs
Jan 24, 2011 referred to veterans, homeland security and military affairs

Votes

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May 22, 2012 - Veterans, Homeland Security and Military Affairs committee Vote

S2506
14
0
committee
14
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Veterans, Homeland Security and Military Affairs committee vote details

Veterans, Homeland Security and Military Affairs Committee Vote: May 22, 2012

S2506 - Details

See Assembly Version of this Bill:
A1303
Current Committee:
Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 19-A ยงยง1115 - 1115-f, Priv Hous Fin L
Versions Introduced in 2009-2010 Legislative Session:
S5131, A4081

S2506 - Summary

Creates a veteran's home and land ownership loan program to provide loans to veterans to purchase homes or unimproved land suitable for building; such loans to be secured by a second mortgage.

S2506 - Sponsor Memo

S2506 - Bill Text download pdf

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

                                  2506

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 24, 2011
                               ___________

Introduced  by Sen. McDONALD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Veterans, Homeland Securi-
  ty and Military Affairs

AN ACT to amend the private housing finance law, in relation to creating
  a veteran's home and land ownership loan program

  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 19-A to read as follows:
                              ARTICLE XIX-A
                 VETERAN'S HOME AND LAND OWNERSHIP LOAN
SECTION 1115. LEGISLATIVE PURPOSE.
        1115-A. DEFINITIONS.
        1115-B. CREATION OF THE "VETERAN'S HOME AND LAND OWNERSHIP
                  LOAN FUND".
        1115-C. PURPOSE AND TERMS OF LOAN.
        1115-D. LOAN REPAYMENT.
        1115-E. ISSUANCE OF BONDS.
        1115-F. ADOPTION OF REGULATIONS.
  S 1115. LEGISLATIVE PURPOSE. IT IS HEREBY FOUND AND DECLARED THAT MANY
NEW YORK RESIDENTS HAVE SERVED OUR NATION HONORABLY IN THE ARMED  FORCES
OF  THE  UNITED  STATES,  AND THAT MANY SUCH NEW YORKERS HAVE SACRIFICED
CONSIDERABLY DURING THEIR SERVICE. IT IS IN THE PUBLIC INTEREST BOTH  TO
DEMONSTRATE  OUR APPRECIATION FOR THAT SERVICE BY PROVIDING STATE FINAN-
CIAL ASSISTANCE TO SUCH VETERANS; IN ORDER TO ENCOURAGE  HOME  OWNERSHIP
AND  THE  REHABILITATION OF DETERIORATING HOUSING, STABILIZE COMMUNITIES
AND IMPROVE THE LOCAL TAX BASE.
  S 1115-A. DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  1. "PERSON" MEANS AN HONORABLY DISCHARGED VETERAN OF THE ARMED  FORCES
OF THE UNITED STATES, OR THEIR SURVIVING UNMARRIED SPOUSE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01501-01-1

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