Provides that in cities having a population of one million or more, the area median income shall be based solely on the specific zip code where the project shall be located.
STATE OF NEW YORK
________________________________________________________________________
4572
2017-2018 Regular Sessions
IN SENATE
February 17, 2017
___________
Introduced by Sen. AVELLA -- 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 real property tax law, in relation to requiring that
affordable housing programs in a city having a population of one
million or more to calculate the area median income based on the
specific zip code in which the project will be located
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision 1 of section 421-a of the real property tax law
2 is amended by adding a new paragraph e to read as follows:
3 e. "Area Median Income (AMI)." Whenever calculating the affordability
4 of a project, AMI shall be based solely on the specific zip code where
5 the project shall be located. This definition shall only apply to new
6 multiple dwellings located in cities having a population of one million
7 or more.
8 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD10159-01-7
