Bill S4033-2011

Relates to the application and effective date of chapter 199 of the laws of 2008

Relates to the application and effectiveness of provisions of the private housing finance law relating to the low income housing trust fund program.

Details

Actions

  • Jul 20, 2011: SIGNED CHAP.197
  • Jul 8, 2011: DELIVERED TO GOVERNOR
  • Jun 15, 2011: returned to senate
  • Jun 15, 2011: passed assembly
  • Jun 15, 2011: ordered to third reading rules cal.260
  • Jun 15, 2011: substituted for a8244
  • May 2, 2011: referred to housing
  • May 2, 2011: DELIVERED TO ASSEMBLY
  • May 2, 2011: PASSED SENATE
  • Apr 12, 2011: ADVANCED TO THIRD READING
  • Apr 11, 2011: 2ND REPORT CAL.
  • Apr 6, 2011: 1ST REPORT CAL.324
  • Mar 15, 2011: REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Meetings

Calendars

Votes

VOTE: COMMITTEE VOTE: - Housing, Construction and Community Development - Apr 6, 2011
Ayes (8): Young, Bonacic, Gallivan, Grisanti, Ritchie, Espaillat, Diaz, Krueger

Memo

BILL NUMBER:S4033

TITLE OF BILL:

An act to amend chapter 199 of the laws of 2008 amending the private housing finance law relating to the low income housing trust fund program, in relation to the application and effective date of such chapter

PURPOSE OF BILL:

This bill would eliminate the sunset provision for Private Housing Finance Law (PHFL) §§ 1101(4),(5),(6),(9) and (11), and 1102(1), which expand eligibility for the Low Income Housing Trust Fund program.

SUMMARY OF PROVISIONS:

Section 1 of the bill would delete section 4 of chapter 199 of the laws of 2008, as amended by section 1 of chapter 140 of the laws of 2010, which requires that the Housing Trust Fund Corporation submit an annual report to the Legislature.

Section 2 of the bill would delete section 5 of chapter 199 of the laws of 2008, as amended by section 2 of chapter 140 the laws of 2010, that provided for the sunset of amendments made in 2008 to the PHFL.

Section 3 of the bill would provide for an immediate effective date.

EXISTING LAW:

Chapter 199 of the laws of 2008 amended the above-referenced sections of the PHFL to expand eligibility for the low income housing trust fund program, thereby allowing additional projects to receive program funding. Section five of chapter 199 provided that those amendments would sunset on July 1, 2010. Chapter 140 of the laws of 2010 extended chapter 199's sunset provision, so that the Housing Trust Fund Corporation is currently authorized to continue the program's expanded eligibility through July 1, 2011. Section 4 of chapter 199, as amended by section 1 of chapter 140 of the laws of 2010, required the Housing Trust Fund Corporation to submit an annual report to the Legislature.

PRIOR LEGISLATIVE HISTORY:

The sunset provision was previously extended in section 5 of chapter 199 of the laws of 2008, and section 2 of chapter 140 of the laws of 2010.

STATEMENT IN SUPPORT:

In order to address a continuing shortage of decent affordable housing in the State, PHFL §§ 1101 and 1102 were amended in 2008 to expand eligibility for additional projects to receive funding under the low income housing trust fund program. The amendments permit a residential property to be eligible for funding if the rehabilitation of the property would preserve

affordable housing serving a population whose housing needs would justify replacement of that housing. In addition, funding eligibility for non-residential property was expanded to include underutilized properties.

These amendments also increased the maximum award to $125,000 per unit, increased the percentage that may be used for project acquisition to 50% and authorized a limited amount of funds to cover the cost of community service facilities.

Using these more flexible standards, from July 7, 2008 through May 14, 2010, the Low Income Housing Trust Fund program awarded $91,347,004 in total grants throughout the State, financing the construction or rehabilitation 2,231 units. These standards should be made permanent, since they have provided the program with greater flexibility in order to address the increasingly complex and diverse affordable housing needs of the state's communities.

This bill would eliminate the section 5 sunset provision for sections one, two and four of chapter 199 of the laws of 2008, as amended by chapter 140 of the laws of 2010, because as noted above, the 2008 amended program requirements have resulted in a successful program capable of providing for the housing needs of low-income residents as envisioned under the Act. The increased funding limits and program enhancements have not had a deleterious effect on the program and thus they should be made permanent and the annual reporting requirement eliminated as unnecessary.

BUDGET IMPLICATIONS:

This bill has no budget implications.

EFFECTIVE DATE:

This bill would become effective immediately.


Text

STATE OF NEW YORK ________________________________________________________________________ 4033 2011-2012 Regular Sessions IN SENATE March 15, 2011 ___________
Introduced by Sen. YOUNG -- (at request of the Division of Housing & Community Renewal) -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Communi- ty Development AN ACT to amend chapter 199 of the laws of 2008 amending the private housing finance law relating to the low income housing trust fund program, in relation to the application and effective date of such chapter THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 4 of chapter 199 of the laws of 2008 amending the private housing finance law relating to the low income housing trust fund program, as amended by chapter 140 of the laws of 2010, is amended to read as follows: [S 4. The housing trust fund corporation shall provide a report on the units assisted under the low income housing trust fund program, as revised in this act, to the chairs of the assembly housing committee and the senate housing, construction and community development committee, on an annual basis, on or before February 20 of the current year.] S 2. Section 5 of chapter 199 of the laws of 2008 amending the private housing finance law relating to the low income housing trust fund program, as amended by chapter 140 of the laws of 2010, is amended to read as follows: S [5] 4. This act shall take effect immediately[; provided, however, that sections one, two and four of this act shall expire and be deemed repealed July 1, 2011; provided further, however that any awards made prior to such repeal date shall remain in effect on and after such date]. S 3. This act shall take effect immediately.

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