New York Assembly Bill 2735 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 20 2011 - 25% progression, died in committee
Action: 2012-05-08 - held for consideration in housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]

Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.

Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.

Asm. Michael Fitzpatrick [R]

Date	Chamber	Action
2012-05-08	Assembly	held for consideration in housing
2012-01-04	Assembly	referred to housing
2011-01-20	Assembly	referred to housing

Type	Source
Summary	https://assembly.state.ny.us/leg/?default_fld=&bn=A02735&term=2011&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=A02735&term=2011&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02735