BILL NUMBER: S1446
SPONSOR: SANDERS
 
TITLE OF BILL:
An act to amend the tax law and the state finance law, in relation to
gifts to the affordable housing for veterans and seniors fund
 
PURPOSE OR GENERAL IDEA OF BILL:
The purpose of this bill is to establish a fund for the creation of
affordable housing.
 
SUMMARY OF SPECIFIC PROVISIONS:
The tax law is amended by adding a new section 630-f and the state
finance law is also amended by, adding a new section 99-bb.
 
JUSTIFICATION:
Throughout New York State, one of the most pressing needs is affordable
housing. Tens of thousands of families, veterans and senior citizens
alike are unable to secure affordable housing. As a result, many seniors
and veterans find it harder and harder to stay in their current resi-
dence. With their limited income, sometimes many senior citizens' and
veterans' only option is to either enter nursing homes or assisted
living facilities. The Affordable Housing for Veterans and Seniors fund
(A.H.V.S.) will make it easier for veterans to transition to civilian
life, while affording seniors the peace of mind they need to know that
they can afford to stay and enjoy life in their own residence. A.H.V.S.
aims to provide a great benefit to veterans and seniors by demonstrating
our state's appreciation and gratitude to them.
 
PRIOR LEGISLATIVE HISTORY:
None.
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
This act shall take effect immediately

Statutes affected:
S1446: ninety-nine-qq state finance law