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.
Creates a veteran's home and land ownership loan program to provide loans to veterans to purchase homes or unimproved land suitable for building; requires such loans to be secured by a second mortgage.
Relates to exemption from taxation of alterations and improvements to multiple dwellings by expanding certain provisions to include cities where the multiple residence law is applicable.
Authorizes the state of New York mortgage agency to purchase rehabilitation mortgages from banks within the state during periods when there is an inadequate supply of credit available for new residential mortgages or available for such loans at carrying charges within the financial means of persons and families of low and moderate income.
Requires the electronic and print publication of certain school district reports within 7 days after approval; defines "local officer or employee" to include certain school officials.
Establishes the New York state diplomas to homeownership assistance program; provides awards of up to fifteen thousand dollars to eligible applicants for repayment on student loans; makes an appropriation therefor.
Requires the commissioner of education to promulgate regulations that provide for the immediate decertification of any teacher who is convicted of a felony under NY law or any offense under the laws of another jurisdiction that would be a felony under NY law.