What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Referred to housing, construction and community development
- Referred to rules
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to activities engaged in by neighborhood preservation companies
In Assembly Committee · Ways And Means · Sponsor Vito Lopez
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the private housing finance law, in relation to activities engaged in by neighborhood preservation companies
Purpose of the bill
This bill amends articles 16 and 17 of the Private Housing Finance Law (PHFL).
Summary of provisions
Section 1 of the bill amends subdivision 5 of section 902 of the PHFL to permit a neighborhood preservation company that is operating within a designated neighborhood in a municipality to expand its service area to include unserved areas of the municipality.
Section 2 of the bill amends section 902 of the PHFL to define a "compelling public purpose" which would permit the division of housing and community renewal to exceed contract funding caps in order to expand a neighborhood preservation company's service area to include unserved areas of the municipality.
Section 3 of the bill amends subdivision 4 of section 903 of the PHFL to authorize the division to exceed the applicable limit on the annual contract amount if it is determined that such additional funding will address a compelling public purpose.
Section 4 of the bill amends section 1002 of the PHFL to define a "compelling public purpose" which would permit the division of housing and community renewal to exceed contract funding caps in order to expand a rural preservation corporation's service area to include unserved rural areas.
Section 5 of the bill amends subdivision 4 of section 1003 of the PHFL to authorize the division to exceed the applicable limit on the annual contract amount if it is determined that such additional funding will address a compelling public purpose.
Section 6 of the bill sets forth the effective date.
Existing law
Currently, the law caps the funds a rural or neighborhood preservation company can receive in anyone fiscal year and restricts a neighborhood preservation company's service area to a geographically defined neighborhood of a municipality.
Prior legislative history
Article 16 was enacted in 1977 and article 17 was enacted in 1980.
Statement in support
The proposed amendments will improve the effectiveness of these programs by providing the division with the discretion to exceed annual funding caps to address a compelling public purpose and to expand a neighborhood preservation company's service area to include unserved areas of the municipality. A compelling public purpose includes (i) the merger or consolidation of two or more preservation companies or corporations where the pre-existing service areas of all merged or consolidated companies and corporations remain served following the merger or consolidation, and such action results in more efficient and cost effective delivery of services or (2) service to an area unserved by an existing company or corporation to promote the health, safety and welfare of a service area.
Budget implications
None, this could be implemented with the funds currently available for these programs.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.