NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A5525
SPONSOR: Brown K TITLE OF BILL:
An act to amend the private housing finance law, in relation to requir-
ing five percent of affordable housing units to be offered to veterans
PURPOSE:
Requires five percent of affordable housing units to be offered to
veterans.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1: The private housing finance law is amended by adding a new 2
section 602-a.
Section 2: Identifies effective date.
JUSTIFICATION:
The veterans who fought for the U.S. in wars from World War II to
Afghanistan face a huge range of housing challenges. Approximately one
third of all homeless Americans are veterans. Veterans with untreated
PTSD can develop alcohol-and drug addictions, which are high-risk behav-
iors that can lead to deteriorating mental health and homelessness. In
other situations, disabled, under-employed, or unemployed veterans
cannot afford adequate housing or home ownership. These challenges
often come on top of already trying conditions for ex-service men and
women, such as post-traumatic stress disorder (PTSD) and the difficulty
of adjusting to life outside the military. New York can, and should,
take steps to help ensure our veterans have safe affordable housing and
access to homeownership; especially after all the sacrifices veterans
make for our nation and state. The bill would create a program offering
a minimum, five percent of affordable housing units built by such compa-
nies, corporations and programs to go to veterans.
LEGISLATIVE HISTORY:
2021-22: A.10255
FISCAL IMPLICATIONS:
None
EFFECTIVE DATE:
This act shall take effect immediately.
