Bill > A07755

This bill amends the Private Housing Finance Law to create a new definition for "veteran with a service-related disability" and provide preferences in the affordable home ownership development program for such veterans. Specifically, the bill defines a veteran with a service-related disability as someone who served in active military, naval, or air service, was discharged under honorable conditions, and has been awarded a disability rating of 40 percent or higher by the federal Veterans Administration or Department of Defense for a disability incurred during active service. The bill modifies existing housing law to allow housing developments to qualify for program participation if they serve households where the home buyer is a veteran with a service-related disability, in addition to the existing requirement of serving low-income households. This change aims to provide additional housing opportunities and support for veterans who have been disabled during their military service. The bill will take effect 90 days after becoming law.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A7755