Senate Bill S566

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    566
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced by Sens. KAVANAGH, MANNION -- 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 sustainable affordable housing incentive program

   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 32 to read as follows:
                               ARTICLE XXXII
             SUSTAINABLE AFFORDABLE HOUSING INCENTIVE PROGRAM
 SECTION 1290. STATEMENT OF LEGISLATIVE FINDINGS AND PURPOSE.
         1291. DEFINITIONS.
         1292. SUSTAINABLE AFFORDABLE HOUSING INCENTIVE PROGRAM.
   § 1290. STATEMENT OF LEGISLATIVE FINDINGS AND PURPOSE. THE LEGISLATURE
 FINDS  AND  DECLARES  THAT CLIMATE CHANGE IS HAVING A SIGNIFICANT IMPACT
 UPON OUR ENVIRONMENT, HEALTH, AND SAFETY AND IT IS NECESSARY  TO  IMPLE-
 MENT  PROGRAMS AND POLICIES THAT IMMEDIATELY REDUCE GREENHOUSE GAS EMIS-
 SIONS. THE LEGISLATURE FURTHER  FINDS  THAT  RESIDENTIAL  HOUSING  IS  A
 SOURCE  FOR  SUCH  EMISSIONS AND WE CAN ONLY ADDRESS CLIMATE CHANGE IN A
 MEANINGFUL MANNER IF WE CHANGE  OUR  PRACTICES  AND  BEHAVIORS  AS  THEY
 RELATE  TO THE CONSTRUCTION OF AND IMPROVEMENTS TO SUCH HOUSING, SUCH AS
 THE USE OF ENVIRONMENTALLY-SENSITIVE DESIGN AND THE  CONSTRUCTION  PRAC-
 TICES  AND MATERIALS; THE INSTALLATION OF ENERGY EFFICIENT PRODUCTS; AND
 ACCESS TO RENEWABLE ENERGY SOURCES.    ESTABLISHING  A  NEW  PROGRAM  TO
 ENCOURAGE AND PUBLICLY SUBSIDIZE MORE ENVIRONMENTALLY-FRIENDLY PRACTICES
 AND MATERIALS WILL REDUCE GREENHOUSE GAS EMISSIONS FROM MULTI-UNIT HOUS-
 ING THROUGHOUT NEW YORK STATE AND HELP ADDRESS CLIMATE CHANGE FOR FUTURE
 GENERATIONS.
   §  1291.  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.
                                                            LBD01709-01-3
              

 S. 566                              2
 
   1. "CORPORATION" SHALL MEAN THE HOUSING TRUST FUND CORPORATION  ESTAB-
 LISHED IN SECTION FORTY-FIVE-A OF THIS CHAPTER.
   2.  "SUSTAINABLE  AFFORDABLE HOUSING ACTIVITIES" SHALL MEAN ACTIVITIES
 BY AN ELIGIBLE APPLICANT FOR A SPECIFIC WORK OR SERIES OF WORKS FOR  THE
 CREATION,  PRESERVATION  OR IMPROVEMENT OF AFFORDABLE HOUSING WHICH WILL
 REDUCE GREENHOUSE GAS EMISSIONS THROUGH THE USE OF DESIGN, CONSTRUCTION,
 MATERIALS AND PRODUCTS, AND ACCESS  TO  RENEWABLE  ENERGY  SOURCES  THAT
 EXCEED  A  GREENHOUSE GAS EMISSIONS BASELINE FOR SUCH HOUSING, AS DETER-
 MINED BY THE CORPORATION IN CONSULTATION WITH THE NEW YORK STATE  ENERGY
 RESEARCH AND DEVELOPMENT CORPORATION.
   3.  "ELIGIBLE  APPLICANT"  SHALL  MEAN A NOT-FOR-PROFIT CORPORATION OR
 CHARITABLE ORGANIZATION, OR A WHOLLY-OWNED SUBSIDIARY OF SUCH  A  CORPO-
 RATION  OR  ORGANIZATION,  OR  A  PRIVATE FOR-PROFIT DEVELOPER SUCH AS A
 PERSON, CORPORATION, PARTNERSHIP OR LIMITED LIABILITY COMPANY.
   4. "AFFORDABLE RESIDENTIAL DEVELOPMENT" SHALL MEAN A  MULTIPLE  FAMILY
 DWELLING WHICH IS SUBJECT TO A REGULATORY AGREEMENT WITH A LOCAL, STATE,
 OR FEDERAL GOVERNMENT ENTITY.
   §  1292.  SUSTAINABLE  AFFORDABLE HOUSING INCENTIVE PROGRAM. 1. WITHIN
 AMOUNTS APPROPRIATED OR OTHERWISE AVAILABLE  THEREFOR,  THE  CORPORATION
 SHALL  DEVELOP AND ADMINISTER A SUSTAINABLE AFFORDABLE HOUSING INCENTIVE
 PROGRAM WHICH SHALL PROVIDE ASSISTANCE IN THE FORM OF  PAYMENTS,  GRANTS
 AND LOANS FOR REASONABLE AND NECESSARY EXPENSES TO AN ELIGIBLE APPLICANT
 FOR SUSTAINABLE HOUSING ACTIVITIES.
   2. THE CORPORATION SHALL DEVELOP PROCEDURES, CRITERIA AND REQUIREMENTS
 RELATED  TO  THE  APPLICATION  AND  AWARD  OF  PROJECTS PURSUANT TO THIS
 SECTION WHICH SHALL INCLUDE:   ELIGIBILITY, MARKET  DEMAND,  FEASIBILITY
 AND FUNDING CRITERIA; THE FUNDING DETERMINATION PROCESS; SUPERVISION AND
 EVALUATION  OF  CONTRACTING APPLICANTS; REPORTING, BUDGETING AND RECORD-
 KEEPING REQUIREMENTS; PROVISIONS FOR  MODIFICATION  AND  TERMINATION  OF
 CONTRACTS; AND SUCH OTHER MATTERS NOT INCONSISTENT WITH THE PURPOSES AND
 PROVISIONS  OF  THIS  ARTICLE AS THE CORPORATION SHALL DEEM NECESSARY OR
 APPROPRIATE.
   § 2. This act shall take effect immediately.