Bill
Bill > A02676
NY A02676
NY A02676Relates to requiring affordable housing projects to calculate and only use the area median income for the specific county that the project is located in for determining affordability.
summary
Introduced
01/24/2019
01/24/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
AN ACT to amend the real property tax law, in relation to requiring affordable housing projects to calculate and only use the area median income for the specific county that the project is located in for determining affordability The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1
AI Summary
This bill amends the Real Property Tax Law to require affordable housing projects, including 421-a projects, to use the area median income (AMI) specific to the county where the project is located when determining affordability. The bill aims to ensure that affordability is calculated based on the income levels of the local community rather than a broader regional or statewide AMI, which may not accurately reflect the economic realities of the project's location.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
referred to housing (on 01/08/2020)
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=A02676&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y | 01/25/2019 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A02676&term=2019&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A02676 | 01/25/2019 |
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