NY A06135

Adds community land trusts as eligible applicants for programs under the Private Housing Finance Law, alongside cities, towns, villages, housing development fund companies, and other existing entities

Defines "community land trust" as a 501(c)(3) nonprofit corporation whose primary purpose is creating and preserving permanently affordable single-family or multi-family residences

Requires community land trusts to sell dwellings to qualified owners for primary residence use or rent to low-income persons, while retaining ownership of the underlying land

Mandates that land under sold dwellings be leased to qualified owners for an initial term of 99 years with renewal rights under the same terms and conditions

Establishes the New York State Community Land Trust Acquisition Fund, administered by the Affordable Housing Corporation, to receive appropriations and other funds exclusively for community land trust purposes