NY S06637

Amends Chapter 696 of the Laws of 1887 to add non-profit housing development fund corporations to the list of entities exempt from paying for water usage and supply in New York City.

Defines "non-profit housing development fund corporations" as corporations, partnerships, or limited liability companies formed to provide housing for low-income families as defined in the Private Housing Finance Law and organized pursuant to Article 11 of that law.

Extends the existing water exemption to real estate used exclusively by these housing development fund corporations, consistent with exemptions already granted to hospitals, orphan asylums, charitable institutions, and religious organizations.

Maintains the mayor's authority to remove exemption status by executive order for entities eligible to receive reimbursement from federal, state, or local government for water payments.

Takes effect immediately upon enactment.