New York Assembly Bill 1582

---

Spectrum: Moderate Partisan Bill (Democrat 7-2)
Status: Introduced on January 17 2023 - 25% progression
Action: 2024-01-03 - referred to housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]

Establishes a reverse loan mortgage loan program for seniors; provides for the state of NY mortgage agency to establish many of the parameters for the implementation of the program; defines terms; requires a care needs assessment of each applicant; provides that area agencies on aging shall provide counseling and assistance to applicants; requires independent counseling in compliance with HUD regulations; directs the state of New York mortgage agency to issue an annual report to the governor and the legislature.

Establishes a reverse loan mortgage loan program for seniors; provides for the state of NY mortgage agency to establish many of the parameters for the implementation of the program; defines terms; requires a care needs assessment of each applicant; provides that area agencies on aging shall provide counseling and assistance to applicants; requires independent counseling in compliance with HUD regulations; directs the state of New York mortgage agency to issue an annual report to the governor and the legislature.

Asm. Jo Simon [D]	Asm. Jaime Williams [D]	Asm. William Colton [D]	Asm. Juan Ardila [D]
Asm. Joseph DeStefano [R]	Asm. Joseph Giglio [R]	Asm. Vivian Cook [D]	Asm. Alicia Hyndman [D]
Asm. Karines Reyes [D]

Date	Chamber	Action
2024-01-03	Assembly	referred to housing
2023-01-17	Assembly	referred to housing

Type	Source
Summary	https://www.nysenate.gov/legislation/bills/2023/A1582
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=A01582&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A01582