Bill Text: NY S08501 | 2009-2010 | General Assembly | Introduced

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Bill Title: Relates to determining eligibility for admission to certain limited-profit housing company housing accommodations.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-10-18 - REFERRED TO RULES [S08501 Detail]

Download: New_York-2009-S08501-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         8501
                                   I N  S E N A T E
                                   October 18, 2010
                                      ___________
       Introduced  by Sen. SQUADRON -- read twice and ordered printed, and when
         printed to be committed to the Committee on Rules
       AN ACT to amend the private housing finance law, in relation  to  deter-
         mining  eligibility  for  admission  to certain limited-profit housing
         company accommodations
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (e) of subdivision 2 of section 31 of the private
    2  housing  finance  law,  as  added by chapter 729 of the laws of 1974, is
    3  amended to read as follows:
    4    (e) Notwithstanding the provisions of this subdivision, families [with
    5  two or more dependents] whose probable aggregate annual income does  not
    6  exceed  one  hundred twenty-five percent of the limitations as to income
    7  as determined pursuant to paragraphs (a) and (b)  of  this  subdivision,
    8  shall also be eligible for admission to the dwelling or non-housekeeping
    9  accommodations  without board of a project on the understanding that any
   10  family becoming eligible for admission by reason hereof shall pay,  from
   11  the time of admission, a rental surcharge as provided for in subdivision
   12  three  of  this section, computed on the basis of the income limitations
   13  applicable to such family in the absence of this subdivision. In  apply-
   14  ing  the  provisions  of  subdivision  three OF THIS SECTION to a family
   15  becoming  eligible  by  reason  of  this  section,  the  maximum  income
   16  prescribed  by  law for admission or occupancy shall for all purposes be
   17  computed without reference to this paragraph.
   18    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD18156-01-0