NY A07328

Designates the Division of Housing and Community Renewal as the sole statewide or regional multi-state entity authorized to administer federal Section 8 project-based housing assistance payment contracts under 42 U.S.C. section 1437f and successor programs.

Allows the Division to subcontract administration and support services as needed and grants it all powers and responsibilities the corporation would have if unable or unwilling to act.

Preserves the authority of municipal and local public housing agencies to operate, service, and administer Section 8 contracts for projects located within their respective political subdivisions.

Establishes the housing corporation as a public housing agency eligible to receive and administer federal subsidies, loans, and fees under the United States Housing Act of 1937.

Takes effect immediately upon enactment.