New York S 595: Exempts veterans from the payment of certain fees relating to corporations

Bill Text

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S00595 Summary:

BILL NOS00595A

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SAME ASSAME AS A00489-A

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SPONSORHINCHEY

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COSPNSRASHBY, JACKSON, MAY

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MLTSPNSR

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Add Art 33 §§1300 - 1302, Priv Hous Fin L

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Establishes the small rental housing development initiative to provide funding to eligible applicants to construct small rental housing developments in eligible areas.

Go to top S00595 Actions:

BILL NOS00595A

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01/08/2025REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

03/03/2025REPORTED AND COMMITTED TO FINANCE

06/04/2025COMMITTEE DISCHARGED AND COMMITTED TO RULES

06/04/2025ORDERED TO THIRD READING CAL.1520

06/11/2025PASSED SENATE

06/11/2025DELIVERED TO ASSEMBLY

06/11/2025referred to housing

01/07/2026died in assembly

01/07/2026returned to senate

01/07/2026REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

01/09/2026AMEND AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

01/09/2026PRINT NUMBER 595A

02/25/2026REPORTED AND COMMITTED TO FINANCE

Go to topS00595 Committee&nbspVotes:

Go to topS00595 Floor&nbspVotes:

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

Go to topS00595 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 595--A

 2025-2026 Regular Sessions

 IN SENATE

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by Sens. HINCHEY, ASHBY, JACKSON, MAY -- read twice and
 ordered printed, and when printed to be committed to the Committee on
 Housing, Construction and Community Development -- recommitted to the
 Committee on Housing, Construction and Community Development in
 accordance with Senate Rule 6, sec. 8 -- committee discharged, bill
 amended, ordered reprinted as amended and recommitted to said commit-
 tee

 AN ACT to amend the private housing finance law, in relation to estab-
 lishing the small rental housing development initiative

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

 1 Section 1. The private housing finance law is amended by adding a new
 2 article 33 to read as follows:
 3 ARTICLE XXXIII
 4 SMALL RENTAL HOUSING DEVELOPMENT INITIATIVE
 5 Section 1300. Legislative findings and statement of policy.
 6 1301. Definitions.
 7 1302. Small rental housing development initiative.
 8 § 1300. Legislative findings and statement of policy. The legislature
 9 hereby finds and declares that there exists in many rural areas of the
 10 state a substantial need for affordable rental housing of a size that is
 11 suitable to small communities with limited infrastructure. The findings
 12 set forth in article seventeen of this chapter, with respect to the
 13 special needs and problems of such areas and the significant potential
 14 role of locally based not-for-profit organizations in helping to meet
 15 such needs, are hereby reaffirmed. The legislature hereby determines
 16 that, in addition to the program of state support to help meet the
 17 administrative expenses of such organizations under article seventeen of
 18 this chapter, a further public need exists for state funding for the
 19 development of affordable rental housing of between two and twenty

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01745-02-5

 S. 595--A 2

 1 units. It is the purpose of this article to encourage the acquisition,
 2 rehabilitation, and construction of affordable rental housing including
 3 in the rural areas of the state by establishing a dedicated program of
 4 such funding.
 5 § 1301. Definitions. For the purposes of this article, the following
 6 terms shall have the following meanings:
 7 1. "Corporation" shall mean the housing trust fund corporation estab-
 8 lished in section forty-five-a of this chapter.
 9 2. "Small rental housing developments" shall mean affordable rental
 10 apartment buildings of between two and twenty units for low to moderate
 11 income households.
 12 3. "Rural area" shall mean cities, towns and villages having a popu-
 13 lation of less than thirty thousand as determined by the last federal
 14 decennial census.
 15 4. "Eligible applicant" shall mean a housing or community development
 16 not-for-profit organization eligible to do business in New York state.
 17 5. "Low to moderate-income