Bill Text: NY S01018 | 2021-2022 | General Assembly | Introduced

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Bill Title: Provides that active volunteer firefighters and volunteer ambulance workers shall qualify for the low interest rate program regardless of income eligibility limits.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO LOCAL GOVERNMENT [S01018 Detail]

Download: New_York-2021-S01018-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1018

                               2021-2022 Regular Sessions

                    IN SENATE

                                       (Prefiled)

                                     January 6, 2021
                                       ___________

        Introduced  by Sen. KAMINSKY -- read twice and ordered printed, and when
          printed to be committed to the Committee on Local Government

        AN ACT to amend the real property tax law, in relation to the  eligibil-
          ity  of  active volunteer firefighters and volunteer ambulance workers
          for the state of New York mortgage agency low interest rate program

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

     1    Section  1.  The  real  property  tax  law  is amended by adding a new
     2  section 457-a to read as follows:
     3    § 457-a. Eligibility for the low interest rate program.    Individuals
     4  who are either an active volunteer firefighter as defined in subdivision
     5  one  of  section  two  hundred fifteen of the general municipal law or a
     6  volunteer ambulance worker as defined in subdivision fourteen of section
     7  two hundred nineteen-k of the general municipal law, and who have served
     8  as such for at least twelve consecutive months,  shall  be  eligible  to
     9  participate  in  the state of New York mortgage agency low interest rate
    10  program regardless of income limits defined by the  state  of  New  York
    11  mortgage  agency  low  interest  rate program. Such eligibility shall be
    12  limited to the purchase of residential property which shall be owner-oc-
    13  cupied. For eligible individuals, the  interest  rate  for  thirty  year
    14  mortgages  shall  be  the  standard  interest  rate offered to all other
    15  participants in such low interest rate program.
    16    The commissioner of the division  of  housing  and  community  renewal
    17  shall  promulgate such rules and regulations as may be necessary for the
    18  administration of this section.
    19    § 2. This act shall take effect on the thirtieth day  after  it  shall
    20  have  become  a  law.    Effective  immediately, the addition, amendment
    21  and/or repeal of any rule or regulation necessary for the implementation
    22  of this act on  its  effective  date  are  authorized  to  be  made  and
    23  completed on or before such effective date.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD01165-01-1