Limits liability for low-income housing providers receiving government assistance; establishes a temporary insurance stabilization program.

The bill amends the private housing finance law to limit the liability of low-income housing providers who receive government assistance. It establishes a temporary insurance stabilization program for these entities, offering commercial general liability insurance at rates determined by the superintendent. The association, consisting of insurers authorized to write commercial general liability insurance, can issue policies to eligible applicants.

Limits liability for low-income housing providers receiving government assistance; establishes a temporary insurance stabilization program.

The bill amends the private housing finance law to limit the liability of low-income housing providers who receive government assistance. It establishes a temporary insurance stabilization program for these entities, offering commercial general liability insurance at rates determined by the superintendent. The association, consisting of insurers authorized to write commercial general liability insurance, can issue policies to eligible applicants.