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Assembly Bill A5505A

2017-2018 Legislative Session

Relates to requiring affordable housing projects to calculate and only use the area median income for the specific zip code that the project is located in

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

co-Sponsors

2017-A5505 - Details

See Senate Version of this Bill:
S4458
Current Committee:
Assembly Housing
Law Section:
Real Property Tax Law
Laws Affected:
Amd §421-a, RPT L
Versions Introduced in Other Legislative Sessions:
2019-2020: A3109, S3666
2021-2022: A1967
2023-2024: A5720

2017-A5505 - Summary

Relates to requiring affordable housing projects to calculate and only use the area median income for the specific zip code that the project is located in for determining affordability.

2017-A5505 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5505
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 9, 2017
                                ___________
 
 Introduced by M. of A. BARNWELL -- read once and referred to the Commit-
   tee on Housing
 
 AN  ACT  to  amend  the  real property tax law, in relation to requiring
   affordable housing projects to calculate and only use the area  median
   income  for  the  specific zip code that the project is located in for
   determining affordability

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 421-a of the real property tax law
 is amended by adding a new paragraph e to read as follows:
   E.  "AREA MEDIAN INCOME (AMI)." WHENEVER CALCULATING THE AFFORDABILITY
 OF A PROJECT, AMI SHALL BE BASED SOLELY ON THE SPECIFIC ZIP  CODE  WHERE
 THE PROJECT SHALL BE LOCATED.
   §  2.  All affordable housing projects, including, but not limited to,
 421-a projects, shall only use the area  median  income  (AMI)  for  the
 specific zip code that the project is located in for determining afford-
 ability.
   § 3. This act shall take effect immediately.
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09241-02-7

co-Sponsors

multi-Sponsors

2017-A5505A (ACTIVE) - Details

See Senate Version of this Bill:
S4458
Current Committee:
Assembly Housing
Law Section:
Real Property Tax Law
Laws Affected:
Amd §421-a, RPT L
Versions Introduced in Other Legislative Sessions:
2019-2020: A3109, S3666
2021-2022: A1967
2023-2024: A5720

2017-A5505A (ACTIVE) - Summary

Relates to requiring affordable housing projects to calculate and only use the area median income for the specific zip code that the project is located in for determining affordability.

2017-A5505A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  5505--A
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 9, 2017
                                ___________
 
 Introduced  by  M.  of  A. BARNWELL, JOYNER, PICHARDO, BICHOTTE, BARRON,
   WRIGHT, DE LA ROSA, SEPULVEDA, DILAN, HARRIS, HYNDMAN, VANEL,  COLTON,
   WEPRIN,  COOK, ARROYO, AUBRY, SIMOTAS, RICHARDSON, RIVERA, M. G. MILL-
   ER, GJONAJ, RODRIGUEZ -- read once and referred to  the  Committee  on
   Housing  --  committee  discharged, bill amended, ordered reprinted as
   amended and recommitted to said committee
 
 AN ACT to amend the real property tax  law,  in  relation  to  requiring
   affordable  housing projects to calculate and only use the area median
   income for the specific zip code that the project is  located  in  for
   determining affordability
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 421-a of the real property tax law
 is amended by adding a new paragraph e to read as follows:
   E. "AREA MEDIAN INCOME (AMI)." WHENEVER CALCULATING THE  AFFORDABILITY
 OF  A  PROJECT, AMI SHALL BE BASED SOLELY ON THE SPECIFIC ZIP CODE WHERE
 THE PROJECT SHALL BE LOCATED.
   § 2. All affordable housing projects, including, but not  limited  to,
 421-a  projects,  shall  only  use  the area median income (AMI) for the
 specific zip code that the project is located in for determining afford-
 ability.  However, for any affordable housing project in the five  coun-
 ties  that  make up New York City, including, but not limited to a 421-a
 project, that is being located in a zip code  where  the  AMI  for  that
 specific  zip  code  is  higher  than  the  New York City Region AMI, as
 defined by HUD, the AMI for the affordability  project,  including,  but
 not  limited to a 421-a project, will be the AMI that HUD has determined
 to be the New York City Region AMI.
   § 3. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09241-05-7

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