Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to housing, construction and community development |
Feb 17, 2017 |
referred to housing, construction and community development |
Senate Bill S4572
2017-2018 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development 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
Actions
co-Sponsors
(D) 32nd Senate District
2017-S4572 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6228
- Current Committee:
- Senate Housing, Construction And Community Development
- Law Section:
- Real Property Tax Law
- Laws Affected:
- Amd §421-a, RPT L
2017-S4572 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4572 Revised 04/03/17 TITLE OF BILL : An act to amend the real property tax law, in relation to requiring that affordable housing programs in a city having a population of one million or more to calculate the area median income based on the specific zip code in which the project will be located PURPOSE : To create actual affordable housing by requiring the use of the particular zip code's AMI in determining affordability levels. In calculating affordability, the local zip code's AMI will be used, rather than regional AMI figures that inflate affordability levels in some counties. SUMMARY OF PROVISIONS : When determining the Area Median Income (AMI) for all affordable housing projects, the AMI for the particular project shall be calculated by determining the AMI in the specific zip code where the project is located. The local zip code's AMI shall be the sole number to be used for all affordability purposes and calculations. JUSTIFICATION :
2017-S4572 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4572 2017-2018 Regular Sessions I N S E N A T E February 17, 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 that affordable housing programs in a city having a population of one million or more to calculate the area median income based on the specific zip code in which the project will be located 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. THIS DEFINITION SHALL ONLY APPLY TO NEW MULTIPLE DWELLINGS LOCATED IN CITIES HAVING A POPULATION OF ONE MILLION OR MORE. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD10159-01-7
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