Senate Bill S3591

2021-2022 Legislative Session

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

download bill text pdf

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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2021-S3591 (ACTIVE) - Details

Current Committee:
Senate Corporations, Authorities And Commissions
Law Section:
New York State Urban Development Corporation Act
Laws Affected:
Add §16-bb, UDC Act
Versions Introduced in Other Legislative Sessions:
2015-2016: S4047
2017-2018: S394
2019-2020: S149
2023-2024: S1490

2021-S3591 (ACTIVE) - Summary

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

2021-S3591 (ACTIVE) - Sponsor Memo

2021-S3591 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3591
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 30, 2021
                                ___________
 
 Introduced  by  Sen.  COMRIE -- 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-bb to read as follows:
   § 16-BB. COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION DISABILITY  HOUS-
 ING  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 LEVER-
 AGE 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.
                                                            LBD08202-01-1
              

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