Establishes a New York state community land trust acquisition fund for affordable home ownership development.
The bill creates a new acquisition fund for community land trusts in New York state. The fund will be used exclusively for the affordable home ownership development program for community land trusts. These trusts are defined as nonprofit corporations exempt from taxation, with a primary purpose of creating and preserving affordable housing. The fund will receive moneys from various sources, including state appropriations and investment income.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.