Bill Text: NY S07863 | 2023-2024 | General Assembly | Introduced

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Bill Title: Increases the amount an eligible applicant may spend for approved administrative costs associated with administering the access to home program.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced) 2024-06-07 - COMMITTED TO RULES [S07863 Detail]

Download: New_York-2023-S07863-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7863

                    IN SENATE

                                     January 3, 2024
                                       ___________

        Introduced  by Sen. KAVANAGH -- 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 increas-
          ing  the  amount an eligible applicant may spend for approved adminis-
          trative costs associated with administering the access to home program

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Subdivision  3  of  section  1202  of the private housing
     2  finance law, as added by chapter 159 of the laws of 2006, is amended  to
     3  read as follows:
     4    3. The corporation may authorize the eligible applicant to spend up to
     5  [seven  and  a  half]  ten  percent  of the contract amount for approved
     6  administrative costs associated with administering the program.
     7    § 2. This act shall take effect immediately.







         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13932-01-3