Increases the bonding authority of the New York City Housing Development Corporation.

This bill amends the private housing finance law to increase the bonding authority of the New York City Housing Development Corporation from nineteen billion dollars to twenty billion dollars. The corporation cannot issue bonds if the issuance would cause the maximum capital reserve fund requirement to exceed eighty-five million dollars. The act takes effect immediately.

Increases the bonding authority of the New York City Housing Development Corporation.

This bill amends the private housing finance law to increase the bonding authority of the New York City Housing Development Corporation from nineteen billion dollars to twenty billion dollars. The corporation cannot issue bonds if the issuance would cause the maximum capital reserve fund requirement to exceed eighty-five million dollars. The act takes effect immediately.