Bill Text: NY A06992 | 2019-2020 | General Assembly | Introduced

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Bill Title: Modifies certain eligibility requirements and extends the time period for the payment of arrears for certain taxes.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Introduced - Dead) 2020-01-08 - referred to housing [A06992 Detail]

Download: New_York-2019-A06992-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6992
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                      April 3, 2019
                                       ___________
        Introduced  by M. of A. EPSTEIN -- read once and referred to the Commit-
          tee on Housing
        AN ACT to amend the private housing finance  law,  in  relation  to  the
          payment of arrears for certain taxes
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. Paragraph (b) of subdivision 1 and subparagraphs 1 and 9 of
     2  paragraph (b) of subdivision 2 of section 577-b of the  private  housing
     3  finance law, paragraph (b) of subdivision 1 as amended by chapter 225 of
     4  the  laws of 2004 and subparagraphs 1 and 9 of paragraph (b) of subdivi-
     5  sion 2 as added by chapter 315 of the laws  of  2002,  are  amended  and
     6  paragraph  (b)  of subdivision 2 is amended by adding a new subparagraph
     7  4-a to read as follows:
     8    (b) [on January first, two thousand two, had] has outstanding  munici-
     9  pal  real  estate  taxes  relating to any prior period [prior to January
    10  first, two thousand one].
    11    (1) a term of [thirty] forty years;
    12    (4-a) that  suspended  arrears  shall  be  subordinated  to  any  loan
    13  obtained  by  the  housing  development  fund  corporation for allowable
    14  purposes;
    15    (9) that the company shall be required to increase maintenance charges
    16  by a minimum of two percent per year or  impose  assessments  to  insure
    17  that the company can provide for its obligations.
    18    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10645-02-9