Senate Bill S1685A

2023-2024 Legislative Session

Establishes the small rental housing development initiative to provide funding to eligible applicants to construct small rental housing developments in eligible areas

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Rules 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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Bill Amendments

2023-S1685 - Details

See Assembly Version of this Bill:
A2956
Current Committee:
Senate Rules
Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 17-C §§1060 - 1062, Priv Hous Fin L
Versions Introduced in 2021-2022 Legislative Session:
S9356, A10517

2023-S1685 - Summary

Establishes the small rental housing development initiative to provide funding to eligible applicants to construct small rental housing developments in eligible areas.

2023-S1685 - Sponsor Memo

2023-S1685 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1685
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2023
                                ___________
 
 Introduced  by  Sen. HINCHEY -- 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 estab-
   lishing the small rental housing development initiative

   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 17-C to read as follows:
                              ARTICLE XVII-C
                SMALL RENTAL HOUSING DEVELOPMENT INITIATIVE
 SECTION 1060. LEGISLATIVE FINDINGS AND STATEMENT OF POLICY.
         1061. DEFINITIONS.
         1062. SMALL RENTAL HOUSING DEVELOPMENT INITIATIVE.
   § 1060. LEGISLATIVE FINDINGS AND STATEMENT OF POLICY. THE  LEGISLATURE
 HEREBY  FINDS  AND DECLARES THAT THERE EXISTS IN MANY RURAL AREAS OF THE
 STATE A SUBSTANTIAL NEED FOR AFFORDABLE RENTAL HOUSING OF A SIZE THAT IS
 SUITABLE TO SMALL COMMUNITIES WITH LIMITED INFRASTRUCTURE. THE  FINDINGS
 SET  FORTH  IN  ARTICLE  SEVENTEEN  OF THIS CHAPTER, WITH RESPECT TO THE
 SPECIAL NEEDS AND PROBLEMS OF SUCH AREAS AND THE  SIGNIFICANT  POTENTIAL
 ROLE  OF  LOCALLY  BASED NOT-FOR-PROFIT ORGANIZATIONS IN HELPING TO MEET
 SUCH NEEDS, ARE HEREBY REAFFIRMED.  THE  LEGISLATURE  HEREBY  DETERMINES
 THAT,  IN  ADDITION  TO  THE  PROGRAM  OF STATE SUPPORT TO HELP MEET THE
 ADMINISTRATIVE EXPENSES OF SUCH ORGANIZATIONS UNDER ARTICLE SEVENTEEN OF
 THIS CHAPTER, A FURTHER PUBLIC NEED EXISTS FOR  STATE  FUNDING  FOR  THE
 DEVELOPMENT OF AFFORDABLE RENTAL HOUSING OF TWENTY UNITS OR LESS.  IT IS
 THE  PURPOSE OF THIS ARTICLE TO ENCOURAGE THE CONSTRUCTION OF AFFORDABLE
 RENTAL HOUSING IN THE RURAL AREAS OF THE STATE BY ESTABLISHING  A  DEDI-
 CATED PROGRAM OF SUCH FUNDING.
   §  1061.  DEFINITIONS. FOR THE PURPOSES OF THIS ARTICLE, THE FOLLOWING
 TERMS SHALL HAVE THE FOLLOWING MEANINGS:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05740-01-3
              

co-Sponsors

2023-S1685A (ACTIVE) - Details

See Assembly Version of this Bill:
A2956
Current Committee:
Senate Rules
Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 17-C §§1060 - 1062, Priv Hous Fin L
Versions Introduced in 2021-2022 Legislative Session:
S9356, A10517

2023-S1685A (ACTIVE) - Summary

Establishes the small rental housing development initiative to provide funding to eligible applicants to construct small rental housing developments in eligible areas.

2023-S1685A (ACTIVE) - Sponsor Memo

2023-S1685A (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1685--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2023
                                ___________
 
 Introduced  by  Sen. HINCHEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Housing, Construction  and
   Community  Development  -- committee discharged, bill amended, ordered
   reprinted as amended and recommitted to said committee
 
 AN ACT to amend the private housing finance law, in relation  to  estab-
   lishing the small rental housing development initiative
 
   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 17-C to read as follows:
                              ARTICLE XVII-C
                SMALL RENTAL HOUSING DEVELOPMENT INITIATIVE
 SECTION 1060. LEGISLATIVE FINDINGS AND STATEMENT OF POLICY.
         1061. DEFINITIONS.
         1062. SMALL RENTAL HOUSING DEVELOPMENT INITIATIVE.
   §  1060. LEGISLATIVE FINDINGS AND STATEMENT OF POLICY. THE LEGISLATURE
 HEREBY FINDS AND DECLARES THAT THERE EXISTS IN MANY RURAL AREAS  OF  THE
 STATE A SUBSTANTIAL NEED FOR AFFORDABLE RENTAL HOUSING OF A SIZE THAT IS
 SUITABLE  TO SMALL COMMUNITIES WITH LIMITED INFRASTRUCTURE. THE FINDINGS
 SET FORTH IN ARTICLE SEVENTEEN OF THIS  CHAPTER,  WITH  RESPECT  TO  THE
 SPECIAL  NEEDS  AND PROBLEMS OF SUCH AREAS AND THE SIGNIFICANT POTENTIAL
 ROLE OF LOCALLY BASED NOT-FOR-PROFIT ORGANIZATIONS IN  HELPING  TO  MEET
 SUCH  NEEDS,  ARE  HEREBY  REAFFIRMED. THE LEGISLATURE HEREBY DETERMINES
 THAT, IN ADDITION TO THE PROGRAM OF  STATE  SUPPORT  TO  HELP  MEET  THE
 ADMINISTRATIVE EXPENSES OF SUCH ORGANIZATIONS UNDER ARTICLE SEVENTEEN OF
 THIS  CHAPTER,  A  FURTHER  PUBLIC NEED EXISTS FOR STATE FUNDING FOR THE
 DEVELOPMENT OF AFFORDABLE RENTAL HOUSING OF TWENTY UNITS OR LESS.  IT IS
 THE PURPOSE OF THIS ARTICLE TO ENCOURAGE THE CONSTRUCTION OF  AFFORDABLE
 RENTAL  HOUSING  IN THE RURAL AREAS OF THE STATE BY ESTABLISHING A DEDI-
 CATED PROGRAM OF SUCH FUNDING.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05740-03-3
 S. 1685--A                          2
              

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