senate Bill S3169

2021-2022 Legislative Session

Enacts the "home mortgage bridge loan assistance act of 2021"

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Housing, Construction And Community Development Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 28, 2021 referred to housing, construction and community development

S3169 (ACTIVE) - Details

See Assembly Version of this Bill:
A6045
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 28 §§1250 - 1256, Priv Hous Fin L; add §89-j, St Fin L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5035
2015-2016: S2239
2017-2018: S433
2019-2020: S2294

S3169 (ACTIVE) - Summary

Enacts the "home mortgage bridge loan assistance act of 2021".

S3169 (ACTIVE) - Sponsor Memo

S3169 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3169
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 28, 2021
                                ___________
 
 Introduced  by  Sen. SANDERS -- 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 enacting
   the  "home  mortgage bridge loan assistance act of 2021"; and to amend
   the state finance law, in relation to establishing the  home  mortgage
   bridge loan assistance fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1.  The private housing finance law is amended by adding a new
 article 28 to read as follows:
                                ARTICLE 28
                         HOME MORTGAGE BRIDGE LOAN
                                ASSISTANCE
 SECTION 1250. SHORT TITLE.
         1251. LEGISLATIVE FINDINGS AND PURPOSE.
         1252. DEFINITIONS.
         1253. HOME MORTGAGE BRIDGE LOAN ASSISTANCE.
         1254. NOTICE, TIMING AND STAY OF PROCEEDING REQUIREMENTS.
         1255. ELIGIBILITY.
         1256. TEMPORARY PAYMENTS OF ASSISTANCE.
   § 1250.  SHORT TITLE. THIS ARTICLE SHALL BE KNOWN AND MAY BE CITED  AS
 THE "HOME MORTGAGE BRIDGE LOAN ASSISTANCE ACT OF 2021".
   §  1251.  LEGISLATIVE FINDINGS AND PURPOSE. (1) FINDINGS. THE LEGISLA-
 TURE HEREBY FINDS AND DECLARES THAT:
   (A) THIS STATE AND THE UNITED STATES HAVE EXPERIENCED THE COLLAPSE  OF
 A  SIZEABLE  PRIMARY  AND  SECONDARY REAL ESTATE MARKET BUBBLE WHICH FEW
 FORESAW AND MANY NOW SUFFER THE WEALTH DESTRUCTIVE EFFECTS OF;
   (B) THIS STATE AND THE UNITED STATES ARE IN CONSEQUENCE NOW  SUFFERING
 AN  ECONOMIC  SLOWDOWN  AS  CONSUMERS TRIM SPENDING AND CONCENTRATE UPON
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04759-01-1

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