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NY A02015
Bill
Status
1/14/2021
Primary Sponsor
Brian Barnwell
Click for details
AI Summary
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Amends Real Property Tax Law Section 421-a to define Area Median Income (AMI) as based solely on the specific county where an affordable housing project is located
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Requires all affordable housing projects, including 421-a projects, to use only the county-specific AMI when determining affordability levels
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Eliminates the use of regional or metropolitan area AMI calculations in favor of individual county AMI figures for affordability determinations
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Takes effect immediately upon enactment
Legislative Description
Relates to requiring affordable housing projects to calculate and only use the area median income for the specific county that the project is located in for determining affordability.
Last Action
referred to housing
1/5/2022