Bill Text: NY A03342 | 2023-2024 | General Assembly | Amended
Bill Title: Establishes that area median income shall be calculated either per each zip code or per region in the city of New York, whichever is lower.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced) 2024-03-14 - print number 3342a [A03342 Detail]
Download: New_York-2023-A03342-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 3342--A 2023-2024 Regular Sessions IN ASSEMBLY February 2, 2023 ___________ Introduced by M. of A. CUNNINGHAM -- read once and referred to the Committee on Housing -- recommitted to the Committee on Housing in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said commit- tee AN ACT to require certain calculations of area median income to be used by all affordable housing programs in a city having a population of one million or more The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Notwithstanding any law, rule or regulation to the contra- 2 ry, within cities having a population of one million or more, any 3 affordable housing program initiated after the effective date of this 4 act shall use the lower of the area median income proportional to the 5 zip code in which the program is located or the regional area median 6 income in which the program is located. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07357-03-4
