Bill
Bill > S00929
NY S00929
NY S00929Authorizes the establishment of the home equity protection insurance program directing the agency to issue a commitment to insure and insure the full value of certain residences which are owner-occupied by persons who meet certain income qualifications.
summary
Introduced
01/09/2019
01/09/2019
In Committee
01/09/2019
01/09/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
Authorizes the establishment of the home equity protection insurance program directing the agency to issue a commitment to insure and insure the full value of certain residences which are owner-occupied by persons who meet certain income qualifications.
AI Summary
This bill authorizes the establishment of the Home Equity Protection Insurance Program, which directs the agency to issue a commitment to insure and insure the full value of certain owner-occupied, one-to-four family residences, including condominiums and cooperatives, for individuals who meet certain income qualifications. The bill outlines the program's mechanisms, including how the insured value is determined, the payment process upon the property's sale, the creation of a revolving fund to support the program, and the investment options for the fund's monies.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS (on 01/09/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://assembly.state.ny.us/leg/?default_fld=&bn=S00929&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y | 01/10/2019 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S00929&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S00929 | 01/10/2019 |
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