Assembly Bill A6584

2017-2018 Legislative Session

Relates to rental assistance for low income elderly families

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-A6584 (ACTIVE) - Details

See Senate Version of this Bill:
S5336
Current Committee:
Assembly Ways And Means
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §654-b, add Art 16-B §§930 - 933, Priv Hous Fin L; amd §§11-2102 & 11-2104, NYC Ad Cd
Versions Introduced in 2019-2020 Legislative Session:
A5462, S4402

2017-A6584 (ACTIVE) - Summary

Relates to rental assistance for low income elderly families; imposes a tax on conveyances or transfers of residential real property whose consideration is greater than two million dollars.

2017-A6584 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6584
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               March 9, 2017
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
   Committee on Housing
 
 AN ACT to amend the private housing finance  law,  in  relation  to  the
   provision of rental assistance for low income elderly families, and to
   amend  the administrative code of the city of New York, in relation to
   imposing a tax on conveyances or transfers of residential real proper-
   ty whose consideration is greater than two million dollars
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.    Section  654-b  of  the  private housing finance law is
 amended by adding a new subdivision 9 to read as follows:
   9. THE SUBSIDIARY CORPORATION SHALL USE THE TAXES DESCRIBED IN  SUBDI-
 VISION  G  OF  SECTION 11-2102 OF THE ADMINISTRATIVE CODE OF THE CITY OF
 NEW YORK EXCLUSIVELY FOR THE PROVISION OF THE ELDERLY RENTAL  ASSISTANCE
 PROGRAM AS DESCRIBED IN ARTICLE SIXTEEN-B OF THIS CHAPTER.
   §  2. The private housing finance law is amended by adding a new arti-
 cle 16-B to read as follows:
                               ARTICLE 16-B
                      ELDER RENTAL ASSISTANCE PROGRAM
 SECTION 930. STATEMENT OF LEGISLATIVE FINDINGS AND PURPOSE.
         931. DEFINITIONS.
         932. ELDER RENTAL ASSISTANCE PROGRAM.
         933. GENERAL AND ADMINISTRATIVE PROVISIONS.
   § 930. STATEMENT OF LEGISLATIVE FINDINGS AND PURPOSE.  THE LEGISLATURE
 HEREBY FINDS THAT THE CITY OF NEW YORK IS EXPERIENCING AN EXTREME SHORT-
 AGE OF AFFORDABLE HOUSING THAT SERVES LOW INCOME  SENIOR  CITIZENS.  FOR
 HUNDREDS  OF THOUSANDS OF SENIOR CITIZENS LIVING ON PENSIONS, RETIREMENT
 SAVINGS AND OTHER FIXED INCOMES, THE RAPID RISE IN RENTS HAS  THREATENED
 THEIR  ABILITY  TO STAY IN THEIR HOMES AND NEIGHBORHOODS. MORE THAN HALF
 OF SENIORS SPEND MORE ON HOUSING THAN THEY CAN AFFORD AND MORE THAN  ONE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10552-01-7
              

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