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NY A07778

Bill

Official Source

Status

Introduced

6/15/2023

Primary Sponsor

Jo Simon

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • 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

  • Requires all affordable housing projects, including 421-a projects, to use only the county-specific AMI when determining affordability levels

  • 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

1/3/2024

Committee Referrals

Housing6/15/2023

Full Bill Text

No bill text available