Relates to community land mortgages and authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Latest action
- Jan 3, 2024
What it does
Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Current step)
Floor (Needs attention)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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