NY A06949 | 2019-2020 | General Assembly
Status
Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on March 27 2019 - 25% progression, died in committee
Action: 2020-01-08 - referred to housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on March 27 2019 - 25% progression, died in committee
Action: 2020-01-08 - referred to housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.
Title
Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.
Sponsors
Asm. Michael Fitzpatrick [R] | Asm. Michael Montesano [R] | Asm. Christopher Tague [R] | Asm. Brian Manktelow [R] |
History
Date | Chamber | Action |
---|---|---|
2020-01-08 | Assembly | referred to housing |
2019-03-27 | Assembly | referred to housing |