•  Summary 
  •  
  •  Actions 
  •  
  •  Committee Votes 
  •  
  •  Floor Votes 
  •  
  •  Memo 
  •  
  •  Text 
  •  
  •  LFIN 
  •  
  •  Chamber Video 

S01086 Summary:

BILL NOS01086
 
SAME ASSAME AS A05954
 
SPONSORRIVERA
 
COSPNSR
 
MLTSPNSR
 
Amd 2, Priv Hous Fin L
 
Relates to the definition of income for the purposes of the private housing finance law.
Go to top    

S01086 Actions:

BILL NOS01086
 
01/06/2017REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
Go to top

S01086 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          1086
 
                               2017-2018 Regular Sessions
 
                    IN SENATE
 
                                     January 6, 2017
                                       ___________
 
        Introduced  by  Sen.  RIVERA -- read twice and ordered printed, and when
          printed to be committed to the Committee on Housing, Construction  and
          Community Development
 
        AN  ACT  to  amend  the  private housing finance law, in relation to the
          definition of income
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section 1.  Subdivision 29 of section 2 of the private housing finance
     2  law,  as  amended by chapter 280 of the laws of 1987, is amended to read
     3  as follows:
     4    29. "Annual income" or "income". The total income as reported  in  the
     5  New  York  state  income  tax  return, less such personal exemptions and
     6  deductions for medical expenses as are actually taken  by  the  taxpayer
     7  and  less  social security and retirement benefits received and included
     8  in taxable  income  but  not  in  excess  of  twenty  thousand  dollars.
     9  Provided,  however,  that  federal  old  age,  survivors, and disability
    10  insurance benefits shall not be deemed income in articles two, four  and
    11  eleven  of  this  chapter. This definition shall be employed in articles
    12  two, four, eight and eleven of this chapter in the computation of "prob-
    13  able aggregate annual income" as therein defined.
    14    § 2. This act shall take effect on the thirtieth day  after  it  shall
    15  have become a law.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02088-01-7
Go to top