Bill Text: NY S05428 | 2021-2022 | General Assembly | Introduced

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Bill Title: Authorizes labor unions to work with the city of New York to finance the construction of affordable housing for its members.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S05428 Detail]

Download: New_York-2021-S05428-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5428

                               2021-2022 Regular Sessions

                    IN SENATE

                                      March 4, 2021
                                       ___________

        Introduced  by  Sen.  PARKER -- 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 labor
          union financed housing

          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  section 1154 to read as follows:
     3    § 1154. Partnership with labor unions.  1. Notwithstanding  any  other
     4  provision  of law to the contrary, the city of New York may enter into a
     5  cooperative partnership with any collective bargaining unit that repres-
     6  ents employees of such city to finance the  construction  of  affordable
     7  housing for the members of such collective bargaining unit.
     8    2.  Any  financing for the construction of affordable housing pursuant
     9  to this section shall consist of units that are exclusively occupied  by
    10  employees  of  the city of New York. For purposes of this subdivision, a
    11  unit shall be deemed occupied by an employee of the city if at least one
    12  person residing in such unit is an employee of the city,  such  employee
    13  actually  resides  in  the unit for more than fifty percent of the year,
    14  and the combined income of all members residing in the unit is less than
    15  one hundred twenty-five percent of the area median income.
    16    3. A lease or rental agreement of any unit created  pursuant  to  this
    17  section  shall  not be extended or renewed to any person if the criteria
    18  established in subdivision two of this section are no longer satisfied.
    19    § 2. This act shall take effect immediately.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06291-01-1