STATE OF NEW YORK
________________________________________________________________________
10183
IN ASSEMBLY
May 10, 2012
___________
Introduced by M. of A. V. LOPEZ, BROOK-KRASNY, GLICK, ROBERTS, CASTRO,
CRESPO, GIBSON, ROSENTHAL, WRIGHT, WEINSTEIN, HOOPER, BARRON, ROBINSON
-- Multi-Sponsored by -- M. of A. BRENNAN, HIKIND, WEISENBERG -- read
once and referred to the Committee on Housing
AN ACT to amend the public authorities law, in relation to the transfer
of money from the mortgage insurance fund to the state treasury
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 2429-b of the public authorities law is amended by
2 adding a new subdivision 7 to read as follows:
3 7. In any fiscal year beginning on or after April first, two thousand
4 thirteen, should the board of directors of the state of New York mort-
5 gage agency authorize the transfer of any monies of the mortgage insur-
6 ance fund to the state treasury for deposit in the general fund, no less
7 than fifty per centum of such monies shall be allocated to affordable
8 housing programs.
9 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD15316-01-2
