| BILL NO | A07445 |
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| SAME AS | No Same As |
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| SPONSOR | Novakhov |
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| COSPNSR | Fitzpatrick, Tague, Manktelow, Norber |
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| MLTSPNSR | |
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| Amd §2402, add §2405-g, Pub Auth L |
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| Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing. |
