Bill > S01871

This bill establishes the public housing fund to be used by the Division of Housing and Community Renewal to support existing public housing. The bill amends the Tax Law to require that 10% of the taxes, interest, and penalties collected from the real property transfer tax be deposited into the public housing fund, which is created within the State Finance Law. The monies in the fund will be used to support existing public housing and will be payable from the fund on the audit and warrant of the State Comptroller based on vouchers approved and certified by the Commissioner of Housing and Community Renewal.