senate Bill S526

2013-2014 Legislative Session

Establishes the rural homeowners assistance program to assist first time, low or moderate income, or minority homeowners to avoid foreclosure; appropriation

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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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to finance
Jan 09, 2013 referred to finance

S526 - Details

Current Committee:
Law Section:
Appropriations
Laws Affected:
Add Art 16-B ยงยง930 - 935, Priv Hous Fin L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S1674
2009-2010: S127

S526 - Summary

Establishes the rural homeowners assistance program for assisting first time, low or moderate income, or minority homeowners from foreclosure by authorizing and directing the commissioner of state division of housing and community renewal to enter into contracts with neighborhood preservation companies to provide such assistance to residents in certain rural communities; appropriates $1,000,000 for such purposes.

S526 - Sponsor Memo

S526 - Bill Text download pdf

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

                                   526

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sen. SAMPSON -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the private housing finance law, in relation  to  estab-
  lishing  the  rural homeowners assistance program and making an appro-
  priation therefor

  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 16-B to read as follows:
                              ARTICLE XVI-B
                 RURAL HOMEOWNERSHIP ASSISTANCE PROGRAM
SECTION 930. DECLARATION OF LEGISLATIVE FINDINGS.
        931. DEFINITIONS.
        932. CONTRACTS WITH NEIGHBORHOOD PRESERVATION COMPANIES IN RURAL
               AREAS.
        933. PAYMENTS  TO  NEIGHBORHOOD   PRESERVATION   COMPANIES   FOR
               HOMEOWNERSHIP, TECHNICAL ASSISTANCE AND TRAINING.
        934. LEGAL AID AGREEMENTS.
        935. ANNUAL REPORT TO THE LEGISLATURE.
  S  930.  DECLARATION  OF  LEGISLATIVE FINDINGS. THE LEGISLATURE HEREBY
FINDS AND DECLARES THAT THERE HAS DEVELOPED A DAMAGING IMPACT OF  PREDA-
TORY  AND  SUB-PRIME  RESIDENTIAL  MORTGAGE  LENDING PATTERNS IN VARIOUS
VULNERABLE NEIGHBORHOODS AND COMMUNITIES  OF  THE  STATE  AND  THAT  THE
RELATIONSHIP  BETWEEN  THE  PREDOMINANCE  OF  SUB-PRIME  LOANS  AND HIGH
CONCENTRATIONS OF FORECLOSURE ACTIONS BEING FILED HAS BEEN FORECAST  AND
CLEARLY  DOCUMENTED.  THE LEGISLATURE FURTHER FINDS THAT THE SCARCITY OF
RESOURCES DEDICATED TO  HOUSING  COUNSELING  AND  HOME  BUYER  EDUCATION
SERVICES  HAS  LEFT MANY FIRST TIME, LOW OR MODERATE INCOME, OR MINORITY
HOMEBUYERS AT RISK.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02133-01-3

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