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NY A10223
Bill
Status
Passed
12/16/2022
Primary Sponsor
Yudelka Tapia
Click for details
AI Summary
- Increases the bond and note authorization limit for the State of New York Mortgage Agency from $1 billion to $1.5 billion in aggregate principal amount
- Excludes refunding bonds and notes from the authorization limit
- Establishes July 23, 2023 as the deadline for issuing new bonds and notes and purchasing mortgages with proceeds, with refunding bonds exempted from this deadline
- Requires the agency's board of directors to establish program guidelines and maximum income limits for mortgage recipients, with limits varying by income tier (125%, 135%, and 150% of Internal Revenue Code thresholds)
- Maintains existing income limit provisions for the agency's neighborhood revitalization program at 150% of federal mortgage revenue bond income limits
Legislative Description
Relates to increasing the bond and note authorization of the state of New York mortgage agency from one billion dollars to one billion five hundred million dollars.
Last Action
signed chap.704
12/16/2022
Committee Referrals
Rules5/17/2022
Rules5/11/2022
Ways and Means5/11/2022
Housing5/6/2022
Full Bill Text
No bill text available