Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 29, 2020 |
referred to housing delivered to assembly passed senate |
Jan 23, 2020 |
advanced to third reading |
Jan 22, 2020 |
2nd report cal. |
Jan 21, 2020 |
1st report cal.216 |
Jan 08, 2020 |
referred to housing, construction and community development returned to senate died in assembly |
Jun 05, 2019 |
referred to housing delivered to assembly passed senate |
Jun 04, 2019 |
advanced to third reading |
Jun 03, 2019 |
2nd report cal. |
May 30, 2019 |
1st report cal.1098 |
May 22, 2019 |
referred to housing, construction and community development |
Senate Bill S6199
2019-2020 Legislative Session
Sponsored By
(D, WF) 31st Senate District
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
Actions
Votes
co-Sponsors
(D, IP, WF) Senate District
2019-S6199 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8427
- Current Committee:
- Assembly Housing
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §1102, Priv Hous Fin L
2019-S6199 (ACTIVE) - Summary
Relates to loans by the housing trust fund corporation; provides that such loans may exceed the thirty year limit in instances where a lengthier period is necessary to provide for a loan term that is co-terminus with the terms of other financing or regulatory agencies participating in the project.
2019-S6199 (ACTIVE) - Sponsor Memo
BILL NUMBER: S6199 SPONSOR: JACKSON TITLE OF BILL: An act to amend the private housing finance law, in relation to loans by the housing trust fund corporation PURPOSE OF THE BILL: This bill would amend the statute of the Housing Finance Agency's (HFA) subsidiary, the Housing Trust Fund Corporation (HTFC), to extend the 30- year loan term maximum by allowing the loan term to be co-terminus with other financing or regulating agencies participating in the project. The change is necessary to permit HTFC to participate in projects funded by its parent and other agencies with longer financing and regulatory requirements. SUMMARY OF PROVISIONS: Section 1 of the bill amends Section 1102 of the Private Housing Finance Law to provide that the length of any loan provided by HTFC shall not exceed thirty years, except in instances where a lengthier loan period
2019-S6199 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6199 2019-2020 Regular Sessions I N S E N A T E May 22, 2019 ___________ Introduced by Sen. JACKSON -- (at request of the New York State Homes and Community Renewal) -- 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 private housing finance law, in relation to loans by the housing trust fund corporation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 1102 of the private housing finance law, as amended by chapter 199 of the laws of 2008, is amended to read as follows: 1. Within the limit of funds available in the housing trust fund account, the corporation is hereby authorized to enter into contracts with eligible applicants for the furnishing by such applicants of hous- ing for persons of low income. Each such contract shall provide that eligible applicants rehabilitate or construct one or more projects or convert one or more nonresidential properties. Such contracts may provide for payments, grants or loans by the corporation for the activ- ities to be carried out by the eligible applicant under the contract. Such contracts shall provide that a private developer make an equity investment of the greater of (i) two and one-half percent of project costs or (ii) five percent of project costs less grants which are to be applied to such costs. The foregoing shall not preclude a private devel- oper from making a greater equity investment. Any payments, grants or loans made by the corporation outstanding at the time of resale shall be subject to repayment in whole or in part upon resale after termination of the regulatory period and as otherwise provided therein. Such repay- ment provisions may survive the end of the regulatory period. Such contracts may provide that eligible applicants shall either (a) perform activities specified under the contract themselves or (b) act as admin- istrators of a program under which projects are rehabilitated or EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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