Bill Text: NY S00524 | 2011-2012 | General Assembly | Introduced

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Bill Title: Relates to determining eligibility for admission to certain limited-profit housing company housing accommodations.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2012-03-12 - COMMITTEE DISCHARGED AND COMMITTED TO RULES [S00524 Detail]

Download: New_York-2011-S00524-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          524
                              2011-2012 Regular Sessions
                                   I N  S E N A T E
                                      (PREFILED)
                                    January 5, 2011
                                      ___________
       Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
         printed to be committed to the Committee on Housing, Construction  and
         Community Development
       AN  ACT  to amend the private housing finance law, in relation to deter-
         mining eligibility for admission  to  certain  limited-profit  housing
         company accommodations
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (e) of subdivision 2 of section 31 of the private
    2  housing finance law, as added by chapter 729 of the  laws  of  1974,  is
    3  amended to read as follows:
    4    (e) Notwithstanding the provisions of this subdivision, families [with
    5  two  or more dependents] whose probable aggregate annual income does not
    6  exceed one hundred twenty-five percent of the limitations as  to  income
    7  as  determined  pursuant  to paragraphs (a) and (b) of this subdivision,
    8  shall also be eligible for admission to the dwelling or non-housekeeping
    9  accommodations without board of a project on the understanding that  any
   10  family  becoming eligible for admission by reason hereof shall pay, from
   11  the time of admission, a rental surcharge as provided for in subdivision
   12  three of this section, computed on the basis of the  income  limitations
   13  applicable  to such family in the absence of this subdivision. In apply-
   14  ing the provisions of subdivision three OF  THIS  SECTION  to  a  family
   15  becoming  eligible  by  reason  of  this  section,  the  maximum  income
   16  prescribed by law for admission or occupancy shall for all  purposes  be
   17  computed without reference to this paragraph.
   18    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD00445-01-1