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Senate Bill S4517

2017-2018 Legislative Session

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

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

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2017-S4517 (ACTIVE) - Details

See Assembly Version of this Bill:
A5968
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property Tax Law
Laws Affected:
Amd §421-a, RPT L
Versions Introduced in Other Legislative Sessions:
2019-2020: A2676
2021-2022: A2015
2023-2024: A7778
2025-2026: A2224

2017-S4517 (ACTIVE) - Summary

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

2017-S4517 (ACTIVE) - Sponsor Memo

2017-S4517 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4517
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             February 16, 2017
                                ___________
 
 Introduced  by  Sen.  AVELLA -- 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  real property tax law, in relation to requiring
   affordable housing projects to calculate and only use the area  median
   income  for  the  specific  county  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 COUNTY 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 county that the project is located in for determining  afforda-
 bility.
   § 3. This act shall take effect immediately.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10029-01-7

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