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NY A06889
Bill
Status
3/18/2025
Primary Sponsor
Christopher Burdick
Click for details
AI Summary
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Requires the Division of Housing and Community Renewal (DHCR) to notify applicants for the low-income housing tax credit of their placement on a waiting list upon submitting a completed application
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Mandates that successful applicants receive an expected date for credit allocation to facilitate financial planning without needing to submit continuous applications
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Allows applicants to maintain their waiting list position as long as their application specifications and qualifications do not substantially change
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Grants the DHCR commissioner authority to accept or revise the waiting list as needed
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Takes effect 180 days after becoming law, with immediate authorization for DHCR to begin developing necessary rules and regulations
Legislative Description
Directs the commissioner of the New York state division of housing and community renewal to promulgate rules and regulations to provide a taxpayer or entity having applied for the low-income housing tax credit and certified by the division of housing and community renewal with a notice of placement on a waiting list upon the submission of a completed application.
Last Action
referred to housing
1/7/2026