Extends provisions relating to affordable housing development loans to all municipalities of the state of New York; assists private sector in development of residential housing.
Relates to establishing the lump sum allocation advisory committee (Part A); relates to requiring transparency, identification and disclosure of certain appropriations (Part B); relates to withholding the salaries of the governor, agency commissioners and deputy commissioners for failing to meet certain reporting deadlines (Part C); relates to creating a tax rate reduction board to look at personal income tax and corporate franchise tax rates (Part D); relates to conducting an audit of all state economic development programs (Part E); relates to prohibiting certain political contributions by individuals appointed to entities that oversee lump sum appropriations (Part F); relates to prohibiting certain third party contracts (Part G).
Provides for an alternative hardship allowance for landlords in New York city rent controlled apartments which allows a hardship rent increase where a building's annual net income is less than 8.5 percent of the equalized assessed value.
Allows for the removal of members of the state board of parole by a majority vote in the senate and the assembly; requires three or more members of such board personally interview potential parolees; requires that the determination to parole an incarcerated individual be unanimous.
Provides preferences in contracts under the affordable home ownership program to police officers, teachers and firefighters who live in the municipality or school district in which they work; defines relevant terms.
Grants credit against personal income tax to purchasers of residential housing in the amount of any downpayment made on such housing; provides that the maximum credit shall not exceed 5 percent of the purchase price of the residential housing; requires taxpayers to meet eligibility requirements imposed by the state of New York mortgage agency.
Permits schools located within the state to purchase reduced fat or whole New York milk to provide or sell at such school; defines New York milk as raw milk produced by milking cows within the state, transported to a dairy processing center within the state, and processed as fluid milk into containers intended for distribution to consumers.