Bill Text: NY S04047 | 2015-2016 | General Assembly | Introduced

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Bill Title: Establishes the community development financial institution disability housing program within the New York state urban development corporation.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-06 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S04047 Detail]

Download: New_York-2015-S04047-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         4047
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                   February 26, 2015
                                      ___________
       Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
         printed to be committed to the Committee on Corporations,  Authorities
         and Commissions
       AN ACT to amend the New York state urban development corporation act, in
         relation to establishing a community development financial institution
         disability housing program
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 1 of chapter 174 of the laws of 1968,  constituting
    2  the  New  York  state  urban  development corporation act, is amended by
    3  adding a new section 16-x to read as follows:
    4    S 16-X. COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION DISABILITY HOUSING
    5  PROGRAM. 1. LEGISLATIVE INTENT. THE LEGISLATURE HEREBY  FINDS  THAT  THE
    6  INCREASED  DEVELOPMENT  OF  HOUSING SUITABLE FOR INDIVIDUALS WITH MENTAL
    7  AND DEVELOPMENTAL DISABILITIES IS A  PRIORITY  OF  THE  STATE  AND  THAT
    8  COMMUNITY  DEVELOPMENT  FINANCIAL  INSTITUTIONS CAN EFFECTIVELY LEVERAGE
    9  PUBLIC FUNDS TO FINANCE THE CONSTRUCTION OF THIS KIND OF HOUSING.
   10    2. DEFINITIONS. AS USED IN THIS SECTION,  THE  FOLLOWING  TERMS  SHALL
   11  HAVE THE MEANINGS INDICATED:
   12    (A) "COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION" OR "CDFI" SHALL HAVE
   13  THE  SAME  MEANING AS SUCH TERMS ARE DEFINED IN SUBDIVISION 2 OF SECTION
   14  16-O OF THIS ACT.
   15    (B) "COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND" SHALL MEAN THE
   16  FUND AS DEFINED IN SUBDIVISION 2 OF SECTION 16-O OF THIS ACT.
   17    (C) "SUPPORTIVE LIVING FACILITY" SHALL HAVE THE SAME MEANING  AS  SUCH
   18  TERM  IS  DEFINED  IN  SUBDIVISION  28-B  OF  SECTION 1.03 OF THE MENTAL
   19  HYGIENE LAW.
   20    (D) "SUPERVISED LIVING FACILITY" SHALL HAVE THE SAME MEANING  AS  SUCH
   21  TERM  IS  DEFINED  IN  SUBDIVISION  28-A  OF  SECTION 1.03 OF THE MENTAL
   22  HYGIENE LAW.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD09345-01-5
       S. 4047                             2
    1    3. PURPOSE. THE CORPORATION SHALL  ALLOCATE  FUNDS  IN  THE  COMMUNITY
    2  DEVELOPMENT  FINANCIAL  INSTITUTIONS  FUND  NOT  TO  EXCEED  TWENTY-FIVE
    3  MILLION DOLLARS TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS INVOLVED
    4  IN THE FINANCING AND DEVELOPMENT OF  SUPPORTIVE  AND  SUPERVISED  LIVING
    5  FACILITIES  IN  ORDER TO DEVELOP ADDITIONAL HOUSING FOR INDIVIDUALS WITH
    6  DEVELOPMENTAL AND MENTAL DISABILITIES IN THE STATE.
    7    4. RULES AND REGULATIONS. THE CORPORATION, IN  CONSULTATION  WITH  THE
    8  OFFICE  OF MENTAL HEALTH, THE OFFICE FOR PEOPLE WITH DEVELOPMENTAL DISA-
    9  BILITIES AND THE OFFICE OF ALCOHOLISM AND SUBSTANCE ABUSE SERVICES SHALL
   10  BE AUTHORIZED TO PROMULGATE RULES AND REGULATIONS IN ACCORDANCE WITH THE
   11  STATE ADMINISTRATIVE PROCEDURE ACT THAT ARE  NECESSARY  TO  FULFILL  THE
   12  PURPOSES OF THIS SECTION.
   13    5.  ALLOCATIONS  OF FUNDS PURSUANT TO THIS SECTION SHALL BE SUBJECT TO
   14  ALL THE PROVISIONS OF SECTION 16-O OF THIS ACT.
   15    S 2. This act shall take effect on the one hundred eightieth day after
   16  it shall have become a law; provided, however, that effective immediate-
   17  ly, the addition, amendment and/or repeal  of  any  rule  or  regulation
   18  necessary  for  the implementation of this act on its effective date are
   19  authorized and directed to be made  and  completed  on  or  before  such
   20  effective date.