Bill Text: NY S04572 | 2017-2018 | General Assembly | Introduced
Bill Title: Provides that in cities having a population of one million or more, the area median income shall be based solely on the specific zip code where the project shall be located.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2018-01-03 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S04572 Detail]
Download: New_York-2017-S04572-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4572 2017-2018 Regular Sessions IN SENATE February 17, 2017 ___________ Introduced by Sen. AVELLA -- 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 real property tax law, in relation to requiring that affordable housing programs in a city having a population of one million or more to calculate the area median income based on the specific zip code in which the project will be located The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 421-a of the real property tax law 2 is amended by adding a new paragraph e to read as follows: 3 e. "Area Median Income (AMI)." Whenever calculating the affordability 4 of a project, AMI shall be based solely on the specific zip code where 5 the project shall be located. This definition shall only apply to new 6 multiple dwellings located in cities having a population of one million 7 or more. 8 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10159-01-7
