Authorizes the establishment of the home equity protection insurance program directing the agency to issue a commitment to insure and insure the full value of certain residences which are owner-occupied by persons who meet certain income qualifications.
Removes certain restrictions relating to the "immediate and compelling necessity" of the landlord on a landlord's ability in certain New York city apartments which are rent stabilized or rent controlled to recover possession of a housing accommodation for such landlord's own personal use and occupancy or for the use and occupancy of such landlord's immediate family.
Creates a homeownership rehabilitation credit; allows a taxpayer to be credited for fifteen percent of the qualified rehabilitation expenses made by such taxpayer with respect to a qualified residence against the tax imposed; defines qualified residence and qualified rehabilitation expenses.
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.
Excludes the five state-run veterans homes from assessments on their gross receipts received from all patient care services and other operating income; directs the Commissioner of Health to apply to the secretary of the Department of Health and Human Services for any necessary waivers pursuant to federal law and regulation.
Relates to improper employer practices relating to the continuation of pay, vacation and health care benefits; relates to eligible employees for retirement plans; relates to compensation items in disputed agreements.
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).
Establishes the "first-time homebuyer tax credit act"; provides that a qualified taxpayer shall be allowed a credit against the taxes imposed by this article for taxes levied on the taxpayer's primary residence by or on behalf of any county, city, town, village, or school district in which such property is located.
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.
Establishes a system of community improvement grants to be administered by and through neighborhood citizens' participation committees; makes definitions; directs commissioner of the New York state division for housing and community renewal to create the community improvement grant program; provides that municipalities receiving such grants establish citizens' participation committees.
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.
Prohibits persons whose income is greater than one hundred twenty-five percent of the area median income from occupying certain housing accommodations.