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A 10828 - Amends Housing Finance Laws - New York Key Vote

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Title: Amends Housing Finance Laws

Vote Smart's Synopsis:

Vote to pass a bill that amends the private housing finance law as it relates to increasing the bonding authority of the New York City housing development corporation.

Highlights:

 

  • Prohibits any corporate bonds or notes be issued unless the amount of bonds and notes exceeds $13.5 billion (Sec. 1). 

  • Prohibits any corporate bonds be issued if it would result in the maximum reserve fund requirement exceeding $30 million, unless the state senate and assembly determine otherwise (Sec. 1). 

Full Bill Text

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