Senate Bill S7995

2025-2026 Legislative Session

Authorizes the county of Ulster to establish an affordable housing fund

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Local Government 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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2025-S7995 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
General Municipal Law
Laws Affected:
Add §6-w, Gen Muni L

2025-S7995 (ACTIVE) - Summary

Authorizes the county of Ulster to establish an affordable housing fund to provide financial assistance to first-time homebuyers, production of affordable housing, emergency housing, or supportive housing for sale or rent, rehabilitation of existing buildings for conversion to affordable housing, emergency housing, or supportive housing, acquisition of interests in real property in existing housing units, and the provision of housing counseling services.

2025-S7995 (ACTIVE) - Sponsor Memo

2025-S7995 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7995
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                               May 15, 2025
                                ___________
 
 Introduced  by  Sen. HINCHEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the general municipal law, in  relation  to  authorizing
   the county of Ulster to establish an affordable housing fund
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general municipal  law  is  amended  by  adding  a  new
 section 6-w to read as follows:
   §  6-W.  AFFORDABLE  HOUSING  FUND  IN  THE COUNTY OF ULSTER. 1. DEFI-
 NITIONS.  AS USED IN THIS SECTION, THE FOLLOWING TERMS  SHALL  HAVE  THE
 FOLLOWING MEANINGS:
   A.  "AFFORDABLE  HOUSING" MEANS HOUSING FOR PERSONS OR FAMILIES DEEMED
 TO BE OR ELIGIBLE TO BE DEEMED TO BE OF EXTREMELY LOW, VERY LOW, LOW  OR
 MODERATE  INCOME  BY ANY STATE OR FEDERAL HOUSING PROGRAM, FOR WHICH THE
 OCCUPANT IS PAYING NO MORE THAN THIRTY PERCENT OF GROSS INCOME FOR HOUS-
 ING COSTS INCLUDING UTILITIES; PROVIDED, HOWEVER, THAT NOTHING  IN  THIS
 DEFINITION  SHALL  PREVENT  THE  COUNTY  FROM FUNDING AFFORDABLE HOUSING
 EITHER ABOVE OR BELOW THIS AFFORDABILITY  LEVEL  WHEN  SUCH  FUNDING  IS
 PURSUANT  TO  FEDERAL  OR STATE PROGRAMS PROVIDING HOUSING ASSISTANCE OR
 WHERE ANY INCOME-RESTRICTED HOUSING,  WHETHER  INTENDED  FOR  RENTAL  OR
 HOMEOWNERSHIP, IS SUBJECT TO A REGULATORY AGREEMENT WITH A LOCAL, STATE,
 OR FEDERAL GOVERNMENTAL ENTITY.
   B.  "BOARD"  MEANS  THE ADVISORY BOARD CREATED PURSUANT TO SUBDIVISION
 SIX OF THIS SECTION.
   C. "FUND" MEANS THE AFFORDABLE HOUSING  FUND  AUTHORIZED  PURSUANT  TO
 SUBDIVISION TWO OF THIS SECTION.
   D.  "PRIMARY RESIDENTIAL PROPERTY" MEANS ANY ONE- OR TWO-FAMILY HOUSE,
 MULTIPLE DWELLING, COOPERATIVE, OR ACCESSORY DWELLING UNIT.
   E. "ELIGIBLE INDIVIDUAL" MEANS UNHOUSED INDIVIDUALS  AND  FAMILIES  OR
 HOUSEHOLDS  WITH  AN  INCOME  OF UP TO EIGHTY PERCENT OF THE AREA MEDIAN
 INCOME OF ULSTER COUNTY.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11796-02-5
              

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