New York State Assembly

Bill No.:  

 
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A06262 Summary:

BILL NO	A06262
SAME AS	SAME AS S04823
SPONSOR	Walker
COSPNSR	D'Urso, Davila
MLTSPNSR	Simon
Amd §21, Pub Hous L
Amends the low income housing tax credit eligibility requirement to at least sixty percent of residential units be both rent-restricted and occupied by individuals whose income is one hundred twenty-five percent or less of area median gross income.

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A06262 Actions:

BILL NO	A06262
03/04/2019	referred to housing
01/08/2020	referred to housing

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A06262 Committee Votes:

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A06262 Floor Votes:

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A06262 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6262
 
                               2019-2020 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 4, 2019
                                       ___________
 
        Introduced by M. of A. WALKER -- read once and referred to the Committee
          on Housing
 
        AN  ACT to amend the public housing law, in relation to low income hous-
          ing tax credit eligibility
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. Paragraph (b) of subdivision 5 and subdivision 6 of section
     2  21  of the public housing law, as added by section 1 of part CC of chap-
     3  ter 63 of the laws of 2000, are amended to read as follows:
     4    (b) would be a qualified low-income building under such section if the
     5  20-50 test specified in subsection (g)(1) of such  section  were  disre-
     6  garded  and  the 40-60 test specified in such subsection (requiring that
     7  at least forty percent of residential units be both rent-restricted  and
     8  occupied  by  individuals  whose income is sixty percent or less of area
     9  median gross income) were a [40-90] 60-125 test.
    10    6. "Qualified basis" of an  eligible  low-income  building  means  the
    11  qualified  basis  of such building determined under section 42(c) of the
    12  internal revenue code, or which would be determined under  such  section
    13  if  the  [40-90]  60-125  test specified in paragraph (b) of subdivision
    14  five of this section applied under such section 42 to determine if  such
    15  building were part of a qualified low-income housing project.
    16    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05946-01-9

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