A2515-2011 Actions

• Jun 5, 2012: held for consideration in housing
• Jan 4, 2012: referred to housing
• Jan 19, 2011: referred to housing

A2515-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 
                                         2515
 2011-2012 Regular Sessions
 I N  ASSEMBLY
 January 19, 2011
 
 Introduced by M. of A. FITZPATRICK, McKEVITT -- Multi-Sponsored by -- M.
 of A. THIELE -- read once and referred to the Committee on Housing
 AN  ACT to amend the private housing finance law, in relation to includ
 ing mixed residential and commercial property within the provisions of
 the affordable home ownership development program
 THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section  1.  Subdivision  1  of  section  1111  of the private housing
 finance law, as added by chapter 67 of the laws of 1985, is  amended  to
 read as follows:

 1.  "Home" shall mean a one to four family dwelling which has at least
 one owner occupant [or], an owner occupied unit in a  cooperative  or  a
 condominium  OR  A  ONE  TO  FOUR FAMILY DWELLING WHICH HAS AT LEAST ONE
 OWNER OCCUPANT AND CONTAINS AN AREA WHICH MAY BE UTILIZED FOR A  COMMER
 CIAL  RETAILING BUSINESS PROVIDED THAT THE PORTION OF THE PAYMENT, GRANT
 OR LOAN FINANCED BY THE CORPORATION FOR SUCH COMMERCIAL  FACILITY  SHALL
 NOT EXCEED TWENTY-FIVE PERCENT OF THE TOTAL PAYMENT, GRANT OR LOAN.
 

S  2.    Subdivision  6 of section 1111 of the private housing finance
 law, as amended by chapter 898 of the laws of 1986, is amended  to  read
 as follows:

 6.  "Rehabilitation"  or "home improvement" shall mean all work neces
 sary to bring a structure into compliance with all applicable  laws  and
 regulations  including  but not limited to the installation, replacement
 or repair of heating, plumbing, electrical and related systems  and  the
 elimination of all hazardous and immediately hazardous violations in the
 structure  in  accordance  with  state and local laws and regulations of
 state and local agencies. Rehabilitation or home  improvement  may  also
 include  reconstruction  or  work to improve the habitability or prolong
 the useful life of residential property OR MIXED RESIDENTIAL AND COMMER
 CIAL PROPERTY.
 

S 3. This act shall take effect immediately.
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02505-01-1

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