New York bills · 2025 Regular Session
New York A 7445
Relates to community land mortgages and authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state
- Introduced
- In committee
- Passed House
- Passed Senate
- To Governor
- Became law
Sponsors
- Michael Novakhov (Republican/Conservative)
Cosponsors (4)
- Chris Tague (Republican)
- Brian Manktelow (Republican)
- Daniel Norber (Republican/Conservative)
- Michael J. Fitzpatrick (Republican)
Summary
Official abstract published by the New York legislature
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.
Text versions
Roll-call votes
No recorded votes on this bill.
Actions
- Jan 7, 2026 · House
REFERRED TO HOUSING - Mar 28, 2025 · House
REFERRED TO HOUSING