Senate Bill S4047

2015-2016 Legislative Session

Establishes the community development financial institution disability housing program within the New York state urban development corporation

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Sponsored By

Archive: Last Bill Status - In Senate Committee Corporations, Authorities And Commissions Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-S4047 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-x, UDC Act
Versions Introduced in Other Legislative Sessions:
2017-2018: S394
2019-2020: S149
2021-2022: S3591
2023-2024: S1490

2015-S4047 (ACTIVE) - Summary

Establishes the community development financial institution disability housing program within the New York state urban development corporation.

2015-S4047 (ACTIVE) - Sponsor Memo

2015-S4047 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  4047

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            February 26, 2015
                               ___________

Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
  printed to be committed to the Committee on Corporations,  Authorities
  and Commissions

AN ACT to amend the New York state urban development corporation act, in
  relation to establishing a community development financial institution
  disability housing program

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 1 of chapter 174 of the laws of 1968,  constituting
the  New  York  state  urban  development corporation act, is amended by
adding a new section 16-x to read as follows:
  S 16-X. COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION DISABILITY HOUSING
PROGRAM. 1. LEGISLATIVE INTENT. THE LEGISLATURE HEREBY  FINDS  THAT  THE
INCREASED  DEVELOPMENT  OF  HOUSING SUITABLE FOR INDIVIDUALS WITH MENTAL
AND DEVELOPMENTAL DISABILITIES IS A  PRIORITY  OF  THE  STATE  AND  THAT
COMMUNITY  DEVELOPMENT  FINANCIAL  INSTITUTIONS CAN EFFECTIVELY LEVERAGE
PUBLIC FUNDS TO FINANCE THE CONSTRUCTION OF THIS KIND OF HOUSING.
  2. DEFINITIONS. AS USED IN THIS SECTION,  THE  FOLLOWING  TERMS  SHALL
HAVE THE MEANINGS INDICATED:
  (A) "COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION" OR "CDFI" SHALL HAVE
THE  SAME  MEANING AS SUCH TERMS ARE DEFINED IN SUBDIVISION 2 OF SECTION
16-O OF THIS ACT.
  (B) "COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND" SHALL MEAN THE
FUND AS DEFINED IN SUBDIVISION 2 OF SECTION 16-O OF THIS ACT.
  (C) "SUPPORTIVE LIVING FACILITY" SHALL HAVE THE SAME MEANING  AS  SUCH
TERM  IS  DEFINED  IN  SUBDIVISION  28-B  OF  SECTION 1.03 OF THE MENTAL
HYGIENE LAW.
  (D) "SUPERVISED LIVING FACILITY" SHALL HAVE THE SAME MEANING  AS  SUCH
TERM  IS  DEFINED  IN  SUBDIVISION  28-A  OF  SECTION 1.03 OF THE MENTAL
HYGIENE LAW.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09345-01-5

              

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