NY A07842

Amends Public Authorities Law to add Section 2405-g establishing special provisions for veterans in the Homes for Veterans Program mortgage financing.

Defines "person" as a veteran or their surviving unmarried spouse, including members of National Guard, reserve components, and active duty military in New York.

Requires minimum borrower cash contribution not to exceed 1% of the property value for veterans applying for mortgages under the program.

Prohibits rejection of veteran applications for cooperative housing properties based on number of units, occupancy rates, location, percentage of units sold, or limited equity cooperative status.

Takes effect 30 days after becoming law, with authority to implement necessary rules and regulations immediately upon enactment.