senate Bill S5035A

2013-2014 Legislative Session

Enacts the "home mortgage bridge loan assistance act of 2014"

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


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

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 23, 2014 print number 5035a
amend (t) and recommit to housing, construction and community development
Jan 08, 2014 referred to housing, construction and community development
May 07, 2013 referred to housing, construction and community development

S5035 - Details

Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 28 §§1250 - 1256, Priv Hous Fin L; add §89-h, St Fin L

S5035 - Summary

Enacts the "home mortgage bridge loan assistance act of 2014".

S5035 - Sponsor Memo

S5035 - Bill Text download pdf

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

                                  5035

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               May 7, 2013
                               ___________

Introduced  by  Sen. PERALTA -- 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 enacting
  the  "home  mortgage bridge loan assistance act of 2013"; and to amend
  the state finance law, in relation to establishing the  home  mortgage
  bridge loan assistance fund

  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 28 to read as follows:
                               ARTICLE 28
                        HOME MORTGAGE BRIDGE LOAN
                               ASSISTANCE
SECTION 1250. SHORT TITLE.
        1251. LEGISLATIVE FINDINGS AND PURPOSE.
        1252. DEFINITIONS.
        1253. HOME MORTGAGE BRIDGE LOAN ASSISTANCE.
        1254. NOTICE, TIMING AND STAY OF PROCEEDING REQUIREMENTS.
        1255. ELIGIBILITY.
        1256. TEMPORARY PAYMENTS OF ASSISTANCE.
  S 1250.  SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED  AS
THE "HOME MORTGAGE BRIDGE LOAN ASSISTANCE ACT OF 2013".
  S  1251.  LEGISLATIVE FINDINGS AND PURPOSE. (1) FINDINGS. THE LEGISLA-
TURE HEREBY FINDS AND DECLARES THAT:
  (A) THIS STATE AND THE UNITED STATES HAVE EXPERIENCED THE COLLAPSE  OF
A  SIZEABLE  PRIMARY  AND  SECONDARY REAL ESTATE MARKET BUBBLE WHICH FEW
FORESAW AND MANY NOW SUFFER THE WEALTH DESTRUCTIVE EFFECTS OF;
  (B) THIS STATE AND THE UNITED STATES ARE IN CONSEQUENCE NOW  SUFFERING
AN  ECONOMIC  SLOWDOWN  AS  CONSUMERS TRIM SPENDING AND CONCENTRATE UPON

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10624-02-3

Co-Sponsors

S5035A (ACTIVE) - Details

Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 28 §§1250 - 1256, Priv Hous Fin L; add §89-h, St Fin L

S5035A (ACTIVE) - Summary

Enacts the "home mortgage bridge loan assistance act of 2014".

S5035A (ACTIVE) - Sponsor Memo

S5035A (ACTIVE) - Bill Text download pdf

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

                                 5035--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               May 7, 2013
                               ___________

Introduced  by  Sen. PERALTA -- read twice and ordered printed, and when
  printed to be committed to the Committee on Housing, Construction  and
  Community  Development  --  recommitted  to  the Committee on Housing,
  Construction and Community Development in accordance with Senate  Rule
  6,  sec. 8 -- committee discharged, bill amended, ordered reprinted as
  amended and recommitted to said committee

AN ACT to amend the private housing finance law, in relation to enacting
  the "home mortgage bridge loan assistance act of 2014"; and  to  amend
  the  state  finance law, in relation to establishing the home mortgage
  bridge loan assistance fund

  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 28 to read as follows:
                               ARTICLE 28
                        HOME MORTGAGE BRIDGE LOAN
                               ASSISTANCE
SECTION 1250. SHORT TITLE.
        1251. LEGISLATIVE FINDINGS AND PURPOSE.
        1252. DEFINITIONS.
        1253. HOME MORTGAGE BRIDGE LOAN ASSISTANCE.
        1254. NOTICE, TIMING AND STAY OF PROCEEDING REQUIREMENTS.
        1255. ELIGIBILITY.
        1256. TEMPORARY PAYMENTS OF ASSISTANCE.
  S  1250.  SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED AS
THE "HOME MORTGAGE BRIDGE LOAN ASSISTANCE ACT OF 2014".
  S 1251. LEGISLATIVE FINDINGS AND PURPOSE. (1) FINDINGS.  THE  LEGISLA-
TURE HEREBY FINDS AND DECLARES THAT:
  (A)  THIS STATE AND THE UNITED STATES HAVE EXPERIENCED THE COLLAPSE OF
A SIZEABLE PRIMARY AND SECONDARY REAL ESTATE  MARKET  BUBBLE  WHICH  FEW
FORESAW AND MANY NOW SUFFER THE WEALTH DESTRUCTIVE EFFECTS OF;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10624-03-4

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