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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to housing, construction and community development
- Referred to housing, construction and community development
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 the maximum surcharge that may be charged on income
Purpose/summary of provisions
This bill would add subdivision twelve to the Private Housing Finance Law Section 31 to limit the surcharge imposed on income of residents of Mitchell-Lama housing units to the amount of the tax exemption and interest subsidy granted by the municipality, as determined on an individual unit basis.
Justification
Since the philosophical basis for the surcharge is to deprive those individuals who are able to afford greater rents special subsidy benefits, there can be no justification for imposing upon an individual payments exceeding that individual's subsidy benefits.
Existing law
None.
Fiscal implications
None.
Effective date
This act shall take effect on the first of July next succeeding the date on which it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.