Bill Text: NY S01490 | 2023-2024 | General Assembly | Introduced
Bill Title: Establishes the community development financial institution disability housing program within the New York state urban development corporation.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-01-03 - REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS [S01490 Detail]
Download: New_York-2023-S01490-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 1490 2023-2024 Regular Sessions IN SENATE January 12, 2023 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the New York state urban development corporation act, in relation to establishing a community development financial institution disability housing program The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 1 of chapter 174 of the laws of 1968, constituting 2 the New York state urban development corporation act, is amended by 3 adding a new section 16-bb to read as follows: 4 § 16-bb. Community development financial institution disability hous- 5 ing program. 1. Legislative intent. The legislature hereby finds that 6 the increased development of housing suitable for individuals with 7 mental and developmental disabilities is a priority of the state and 8 that community development financial institutions can effectively lever- 9 age public funds to finance the construction of this kind of housing. 10 2. Definitions. As used in this section, the following terms shall 11 have the meanings indicated: 12 (a) "community development financial institution" or "CDFI" shall have 13 the same meaning as such terms are defined in subdivision 2 of section 14 sixteen-o of this act. 15 (b) "community development financial institutions fund" shall mean the 16 fund as defined in subdivision 2 of section sixteen-o of this act. 17 (c) "supportive living facility" shall have the same meaning as such 18 term is defined in subdivision 28-b of section 1.03 of the mental 19 hygiene law. 20 (d) "supervised living facility" shall have the same meaning as such 21 term is defined in subdivision 28-a of section 1.03 of the mental 22 hygiene law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD03478-01-3S. 1490 2 1 3. Purpose. The corporation shall allocate funds in the community 2 development financial institutions fund not to exceed twenty-five 3 million dollars to community development financial institutions involved 4 in the financing and development of supportive and supervised living 5 facilities in order to develop additional housing for individuals with 6 developmental and mental disabilities in the state. 7 4. Rules and regulations. The corporation, in consultation with the 8 office of mental health, the office for people with developmental disa- 9 bilities and the office of addiction services and supports shall be 10 authorized to promulgate rules and regulations in accordance with the 11 state administrative procedure act that are necessary to fulfill the 12 purposes of this section. 13 5. Allocations of funds pursuant to this section shall be subject to 14 all the provisions of section sixteen-o of this act. 15 § 2. This act shall take effect on the one hundred eightieth day after 16 it shall have become a law. Effective immediately, the addition, amend- 17 ment and/or repeal of any rule or regulation necessary for the implemen- 18 tation of this act on its effective date are authorized to be made and 19 completed on or before such effective date.
