Senate Bill S5279

2019-2020 Legislative Session

Relates to the payment of arrears for certain taxes

download bill text pdf

Sponsored By

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

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2019-S5279 (ACTIVE) - Details

See Assembly Version of this Bill:
A6992
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §577-b, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2021-2022: S2015, A3299
2023-2024: S4965, A462

2019-S5279 (ACTIVE) - Summary

Modifies certain eligibility requirements and extends the time period for the payment of arrears for certain taxes.

2019-S5279 (ACTIVE) - Sponsor Memo

2019-S5279 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5279
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              April 23, 2019
                                ___________
 
 Introduced  by  Sen. JACKSON -- 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 the
   payment of arrears for certain taxes

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (b) of subdivision 1 and subparagraphs 1 and 9 of
 paragraph  (b)  of subdivision 2 of section 577-b of the private housing
 finance law, paragraph (b) of subdivision 1 as amended by chapter 225 of
 the laws of 2004 and subparagraphs 1 and 9 of paragraph (b) of  subdivi-
 sion  2  as  added  by  chapter 315 of the laws of 2002, are amended and
 paragraph (b) of subdivision 2 is amended by adding a  new  subparagraph
 4-a to read as follows:
   (b)  [on January first, two thousand two, had] HAS outstanding munici-
 pal real estate taxes relating to any PRIOR  period  [prior  to  January
 first, two thousand one].
   (1) a term of [thirty] FORTY years;
   (4-A)  THAT  SUSPENDED  ARREARS  SHALL  BE  SUBORDINATED  TO  ANY LOAN
 OBTAINED BY THE  HOUSING  DEVELOPMENT  FUND  CORPORATION  FOR  ALLOWABLE
 PURPOSES;
   (9) that the company shall be required to increase maintenance charges
 BY  A  MINIMUM  OF  TWO PERCENT PER YEAR or impose assessments to insure
 that the company can provide for its obligations.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10645-02-9

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