NY A10828

Increases the bonding authority cap for the New York City Housing Development Corporation from $12 billion to $13.5 billion.

Maintains the existing requirement that the maximum capital reserve fund cannot exceed $85 million.

Preserves provisions allowing the corporation to deduct refunded bonds, renewed notes, and available sinking funds from aggregate principal calculations.

Requires Senate and Assembly concurrent resolution (majority vote in each house) plus gubernatorial approval before issuing bonds that would increase the maximum reserve fund requirement beyond $30 million.

Takes effect immediately upon enactment.