Bill Text: NY S04960 | 2023-2024 | General Assembly | Amended
Bill Title: Establishes that area median income shall be calculated either per each zip code or per region in the city of New York, whichever is lower.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Introduced) 2024-03-07 - PRINT NUMBER 4960A [S04960 Detail]
Download: New_York-2023-S04960-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 4960--A 2023-2024 Regular Sessions IN SENATE February 17, 2023 ___________ Introduced by Sens. JACKSON, CLEARE, SEPULVEDA -- read twice and ordered printed, and when printed to be committed to the Committee on Cities 1 -- recommitted to the Committee on Cities 1 in accordance with Senate Rule 6, sec. 8 -- reported favorably from said committee and committed to the Committee on Housing, Construction and Community Development -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to require certain calculations of area median income to be used by all affordable housing programs in a city having a population of one million or more The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Notwithstanding any law, rule or regulation to the contra- 2 ry, within cities having a population of one million or more, any 3 affordable housing program initiated after the effective date of this 4 act shall use the lower of the area median income proportional to the 5 zip code in which the program is located or the regional area median 6 income in which the program is located. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07357-02-4
