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Senate Bill S2321

2011-2012 Legislative Session

Limits the maximum surcharge imposition on a tenant to amount of tax exemption on an individual unit basis

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Sponsored By

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

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2011-S2321 (ACTIVE) - Details

Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Private Housing Finance Law
Laws Affected:
Amd ยง31, Priv Hous Fin L
Versions Introduced in 2009-2010 Legislative Session:
S930

2011-S2321 (ACTIVE) - Summary

Provides that the maximum surcharge imposed on income of residents of limited-profit housing company rental units shall not be greater than the amount of the tax exemption and interest subsidy granted by the municipality to such resident as determined on an individual unit basis.

2011-S2321 (ACTIVE) - Sponsor Memo

2011-S2321 (ACTIVE) - Bill Text download pdf 

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

                                  2321

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 18, 2011
                               ___________

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 the
  maximum surcharge that may be charged on income

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

  Section 1. Section 31 of the private housing finance law is amended by
adding a new subdivision 13 to read as follows:
  13.  THE MAXIMUM SURCHARGE IMPOSED SHALL, IN NO EVENT, BE GREATER THAN
THE AMOUNT OF THE TAX EXEMPTION, IF ANY, GRANTED BY THE MUNICIPALITY, AS
DETERMINED ON AN INDIVIDUAL UNIT BASIS.
  S 2. This act shall take effect on the first of July  next  succeeding
the date on which it shall have become a law.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD07049-01-1

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