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Who cares
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Sponsors
No co-sponsors yet.
History
- 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 public housing law, in relation to requiring the commissioner of community housing and renewal and the superintendent of financial services to create an annual report regarding residential subsidies provided by public agencies
Purpose
To generate an annual report regarding residential subsidies provided by public agencies.
Summary of provisions
Section 1 contains legislative findings and intent.
Section 2 amends the public housing law by adding a new section 16-a for reporting requirements for subsidized housing programs. The commissioner and superintendent of financial services shall jointly prepare an annual report which shall be submitted to the governor and the legislature on or before January 1, regarding residential subsidies provided by any public agency during the immediately preceding fiscal year, including the fiscal year ending March 31, 2016. Every public agency that provides a residential subsidy shall provide the information required in such report to the commissioner and the superintendent of financial services within 60 days from the end of the fiscal year for which the report is being prepared.
This report shall contain, but shall not be limited to, the following information: (1) the dollar amount of such residential subsidies by category of residential subsidy; (2) the dollar amount of residential subsidies by areas, as determined by the commissioner; (3) the dollar amount of residential subsidies provided to create rental dwelling units; (4) the dollar amount of residential subsidies provided to sale programs; (5) the dollar amount of residential subsidies provided for each residential project; and (6) the number of dwelling units in residential projects receiving residential subsidies, divided according to the following household income groups as percentages of median income for the area: 0-24, 25-40, 41-60, 61-90, 91-120, 121-150, 151-200, 201-250, 251-300, above 300%.
Section 3 provides this act shall take effect ninety days after it shall have become a law.
Existing law
None
Justification
There is an affordable housing crisis in New York State, especially for low- and moderate-income families. Developing housing for low- and moderate-income families requires subsidies through municipal programs and federal programs administered by municipalities. Reporting requirements regarding the use of these subsidies will assist the municipal agencies to develop and review housing programs in order to achieve the best use of the limited available resources.
Legislative history
New bill
Fiscal implications
None
Local fiscal implications
None
Effective date
This act shall take effect ninety days after 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.