Bill Text: NY S04517 | 2017-2018 | General Assembly | Introduced
Bill Title: Relates to requiring affordable housing projects to calculate and only use the area median income for the specific county that the project is located in for determining affordability.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2018-01-03 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S04517 Detail]
Download: New_York-2017-S04517-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 4517 2017-2018 Regular Sessions IN SENATE February 16, 2017 ___________ Introduced by Sen. AVELLA -- 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 real property tax law, in relation to requiring affordable housing projects to calculate and only use the area median income for the specific county that the project is located in for determining affordability The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 421-a of the real property tax law 2 is amended by adding a new paragraph e to read as follows: 3 e. "Area Median Income (AMI)." Whenever calculating the affordability 4 of a project, AMI shall be based solely on the specific county where the 5 project shall be located. 6 § 2. All affordable housing projects, including, but not limited to, 7 421-a projects, shall only use the area median income (AMI) for the 8 specific county that the project is located in for determining afforda- 9 bility. 10 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10029-01-7
