Bill > A00420

This bill increases the New York State Housing Finance Agency's (HFA) bonding authority from $31.28 billion to $36.28 billion. The bill specifically amends the Private Housing Finance Law to raise the maximum aggregate principal amount of bonds and notes the agency can issue for various purposes, including state university construction, hospital and nursing home projects, health facilities, youth facilities, community mental health services, developmental disabilities services, senior citizens services, and mental hygiene improvement projects. The increased bonding authority will allow the HFA to finance more housing and infrastructure projects across these different sectors. The change is relatively straightforward, simply increasing the dollar limit on the agency's ability to issue bonds, which can help support ongoing and future development initiatives in New York State. The bill takes effect immediately upon passage, providing the HFA with immediate access to the expanded bonding capacity.

Budget and Finance, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A420