New York A 8125: Authorizes human research in compliance with federal law

Bill Text

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A08125 Summary:

BILL NOA08125 

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SAME ASNo Same As

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SPONSORRosenthal

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COSPNSR

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MLTSPNSR

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Amd §577, Priv Hous Fin L

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Prohibits real property that has converted from a limited-profit housing company to a housing development fund company from being eligible for a shelter rent tax abatement.

Go to top A08125 Actions:

BILL NOA08125 

&nbsp

05/01/2025referred to housing

01/07/2026referred to housing

Go to topA08125 Committee&nbspVotes:

Go to topA08125 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA08125 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8125

 2025-2026 Regular Sessions

 IN ASSEMBLY

 May 1, 2025
 ___________

 Introduced by M. of A. ROSENTHAL -- read once and referred to the
 Committee on Housing

 AN ACT to amend the private housing finance law, in relation to prohib-
 iting shelter rent tax abatements for Mitchell-Lama co-ops undergoing
 a conversion from a limited-profit housing company to a housing devel-
 opment fund company

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 577 of the private housing finance law is amended
 2 by adding a new subdivision 4 to read as follows:
 3 4. Notwithstanding any inconsistent provision of law to the contrary,
 4 a project of a housing development fund company incorporated pursuant to
 5 the not-for-profit corporation law and this article that was converted
 6 from a limited-profit housing company incorporated pursuant to the
 7 provisions of article two of this chapter shall not be entitled to
 8 receive the shelter rent tax exemption established pursuant to this
 9 section or section thirty-three of this chapter.
 10 § 2. This act shall take effect on the first of January next succeed-
 11 ing the date on which it shall have become a law and shall apply to
 12 taxable years beginning on or after such effective date.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08799-02-5

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