Bill Text: NY S07770 | 2023-2024 | General Assembly | Introduced
Bill Title: Establishes the manufactured home community preservation act to provide financial and technical assistance, within funds available to counties, municipalities, rural preservation companies, and other non-profit housing organizations for their housing preservation efforts; provides that funds in the mortgage insurance fund can be used to provide financial support to local governments and eligible non-profit housing organizations.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-01-03 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S07770 Detail]
Download: New_York-2023-S07770-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 7770 2023-2024 Regular Sessions IN SENATE November 27, 2023 ___________ Introduced by Sen. HINCHEY -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to amend the private housing finance law, in relation to estab- lishing the manufactured home community preservation act; and to amend the public authorities law, in relation to the distribution of funds in the mortgage insurance fund The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The private housing finance law is amended by adding a new 2 article 20-A to read as follows: 3 ARTICLE XX-A 4 MANUFACTURED HOME COMMUNITY PRESERVATION ACT 5 Section 1125. Definitions. 6 1126. State mobile and manufactured home communities preserva- 7 tion program. 8 1127. Financial support to acquire development rights or 9 purchase mobile home and manufactured home parks. 10 § 1125. Definitions. For the purposes of this article: 11 1. "Development rights" means the rights of the fee simple owner to 12 develop, construct on, divide, sell, lease, or otherwise change the 13 property from its current use as a mobile home or manufactured home 14 park, or other affordable housing option as permitted by the land coven- 15 ant at the time of sale. Development rights include the exercise of the 16 owner's rights to sell or grant easements or rights of way, or other 17 rights if by that exercise the use of the land as a mobile home or manu- 18 factured home park is diminished; provided, however, that the term 19 "development rights" shall not include the rights of the owner to sell, 20 lease, or otherwise improve the land to preserve, maintain, operate, or 21 continue the land as a mobile home or manufactured home park or all 22 other customary rights and privilege of ownership, including the right 23 to privacy. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD11580-01-3S. 7770 2 1 2. "Current property value" means the fair market value of a property 2 that is restricted by an easement or covenant to its use as a mobile 3 home or manufactured home park rather than the highest or best potential 4 use. 5 3. "Mobile home and manufactured home park protection agreement" means 6 preemptive purchase rights or other provisions that are part of or 7 linked to a protection conservation easement or covenant providing the 8 easement holder the preferential right to purchase a protected mobile 9 home and manufactured home park at its current use value in the event 10 the landowner intends to sell such property to a purchaser who does not 11 intend to maintain the property as a mobile home and manufactured home 12 park. 13 § 1126. State mobile and manufactured home communities preservation 14 program. 1. The commissioner, or his or her authorized designee, shall 15 initiate and maintain a state mobile and manufactured home communities 16 preservation program to provide financial and technical assistance, 17 within funds available to counties, municipalities, rural preservation 18 companies, and other non-profit housing organizations for their housing 19 preservation efforts. 20 2. For the purposes of such program, the commissioner shall be author- 21 ized to: 22 (a) develop guidelines for eligibility and an application process for 23 financial assistance; 24 (b) provide technical assistance or contract with the rural housing 25 coalition to provide technical assistance to eligible entities; 26 (c) disseminate information to local governments, mobile home and 27 manufactured home park residents, and housing organizations about the 28 preservation program; and 29 (d) report biennially to the governor and the legislature regarding 30 the activities of the commissioner with regards to the program, includ- 31 ing the types of technical assistance provided, the amount of financial 32 assistance provided, and the number of mobile home parks preserved 33 through the program. 34 § 1127. Financial support to acquire development rights or purchase 35 mobile home and manufactured home parks. Within the limit of funds 36 available in the mortgage insurance fund established pursuant to section 37 twenty-four hundred twenty-nine-b of the public authorities law, the 38 commissioner is hereby authorized to provide financial support to local 39 governments or eligible non-profit housing organizations, such as rural 40 preservation companies, land banks or community land trusts to acquire 41 the development rights or outright purchase of mobile home and manufac- 42 tured home parks. Such funds may be used to administer and assist with 43 the relocation of residents and/or their mobile or manufactured homes to 44 other locations within the state as per regulations promulgated by the 45 commissioner. 46 § 2. Subdivision 1-a of section 2429-b of the public authorities law, 47 as amended by section 13 of chapter 3 of the laws of 2004, is amended to 48 read as follows: 49 1-a. All moneys held in the mortgage insurance fund, except as herein- 50 after provided, shall be used, as required, solely for the payment of 51 the agency's liabilities arising from mortgages insured as provided in 52 section twenty-four hundred twenty-nine-a of this part and from the 53 provision of development corporation credit support as provided in 54 section twenty-four hundred twenty-eight-a of this part and for the 55 provision of financial support to local governments and eligible non- 56 profit housing organizations pursuant to section eleven hundred twenty-S. 7770 3 1 seven of the private housing finance law; provided, however, that no 2 moneys shall be withdrawn from any account at any time in such amount as 3 would reduce the amount of, as applicable, the special account, either 4 pool insurance account or the development corporation credit support 5 account to less than its applicable mortgage insurance fund requirement, 6 except for the purpose of paying such liabilities as the same become due 7 and for the payment of which other moneys of the agency are not avail- 8 able. All payments pursuant to section twenty-four hundred twenty-nine-a 9 of this part, and expenses attributable thereto shall be debited to the 10 special account or the single family pool insurance account or the 11 project pool insurance account or the development corporation credit 12 support account, as appropriate, within the mortgage insurance fund. All 13 other operating expenses of the agency with respect to insurance of 14 mortgages and providing development corporation credit support shall be 15 debited to the special account, the single family pool insurance 16 account, the project pool insurance account or the development corpo- 17 ration credit support account within the mortgage insurance fund, as 18 appropriate. 19 § 3. Subdivision 1-a of section 2429-b of the public authorities law, 20 as amended by section 15 of chapter 3 of the laws of 2004, is amended to 21 read as follows: 22 1-a. All moneys held in the mortgage insurance fund, except as herein- 23 after provided, shall be used, as required, solely for the payment of 24 the agency's liabilities arising from mortgages insured as provided in 25 section twenty-four hundred twenty-nine-a of this part and from the 26 provision of development corporation credit support as provided in 27 section twenty-four hundred twenty-eight-a of this part and for the 28 provision of financial support to local governments and eligible non- 29 profit housing organizations pursuant to section eleven hundred twenty- 30 seven of the private housing finance law; provided, however, that no 31 moneys shall be withdrawn from any account at any time in such amount as 32 would reduce the amount of, as applicable, the special account or the 33 development corporation credit support account to less than its applica- 34 ble mortgage insurance fund requirement, except for the purpose of 35 paying such liabilities as the same become due and for the payment of 36 which other moneys of the agency are not available. All payments pursu- 37 ant to section twenty-four hundred twenty-nine-a of this part, and 38 expenses attributable thereto shall be debited to the special account or 39 the development corporation credit support account within the mortgage 40 insurance fund. All other operating expenses of the agency with respect 41 to insurance of mortgages and providing development corporation credit 42 support shall be debited to the special account or the development 43 corporation credit support account within the mortgage insurance fund, 44 as appropriate. 45 § 4. This act shall take effect immediately; provided, however, that 46 the amendments to subdivision 1-a of section 2429-b of the public 47 authorities law made by section two of this act shall be subject to the 48 expiration and reversion of such subdivision pursuant to section 19 of 49 chapter 555 of the laws of 1989, as amended, when upon such date the 50 provisions of section three of this act shall take effect.
