NY A10228

Increases the bonding authority cap for the New York City Housing Development Corporation from $17 billion to $18 billion in aggregate principal amount of outstanding bonds and notes

Maintains the existing capital reserve fund requirement cap of $85 million

Preserves the requirement that bonds exceeding a $30 million maximum reserve fund requirement must be approved by concurrent resolution of both the New York State Senate and Assembly, plus written agreement from the Governor

Takes effect immediately upon enactment