STATE OF NEW YORK
________________________________________________________________________
524
2011-2012 Regular Sessions
IN SENATE(Prefiled)
January 5, 2011
___________
Introduced by Sen. SQUADRON -- 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 deter-
mining eligibility for admission to certain limited-profit housing
company accommodations
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Paragraph (e) of subdivision 2 of section 31 of the private
2 housing finance law, as added by chapter 729 of the laws of 1974, is
3 amended to read as follows:
4 (e) Notwithstanding the provisions of this subdivision, families [with
5 two or more dependents] whose probable aggregate annual income does not
6 exceed one hundred twenty-five percent of the limitations as to income
7 as determined pursuant to paragraphs (a) and (b) of this subdivision,
8 shall also be eligible for admission to the dwelling or non-housekeeping
9 accommodations without board of a project on the understanding that any
10 family becoming eligible for admission by reason hereof shall pay, from
11 the time of admission, a rental surcharge as provided for in subdivision
12 three of this section, computed on the basis of the income limitations
13 applicable to such family in the absence of this subdivision. In apply-
14 ing the provisions of subdivision three of this section to a family
15 becoming eligible by reason of this section, the maximum income
16 prescribed by law for admission or occupancy shall for all purposes be
17 computed without reference to this paragraph.
18 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD00445-01-1
