NY A04365 | 2023-2024 | General Assembly
Status
Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on February 14 2023 - 25% progression, died in committee
Action: 2024-01-03 - referred to housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 14 2023 - 25% progression, died in committee
Action: 2024-01-03 - referred to housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]
Summary
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.
Title
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.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2024-01-03 | Assembly | referred to housing |
2023-02-14 | Assembly | referred to housing |