Increases the amount of funds that may be used per dwelling unit to modernize certain authorities used by the housing trust fund corporation.

This bill amends the private housing finance law to increase the amount of funds that may be used per dwelling unit to modernize certain authorities used by the housing trust fund corporation. It allows for payments, grants, or loans for the acquisition, construction, conversion, or rehabilitation of residential units occupied by low-income persons. The bill also sets criteria for the use of funds, including limits on the amount used for project acquisition and community service facilities. The changes take effect immediately upon enactment.

Increases the amount of funds that may be used per dwelling unit to modernize certain authorities used by the housing trust fund corporation.

This bill amends the private housing finance law to increase the amount of funds that may be used per dwelling unit to modernize certain authorities used by the housing trust fund corporation. It allows for payments, grants, or loans for the acquisition, construction, conversion, or rehabilitation of residential units occupied by low-income persons. The bill also sets criteria for the use of funds, including limits on the amount used for project acquisition and community service facilities. The changes take effect immediately upon enactment.