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A 7445

New York Assembly bill in Session 2025-2026.

Status: in_committee. Latest action: January 7, 2026.

Relates to community land mortgages and authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state.

Bill ID NY-2025-2026-A-7445
Session 2025-2026
Status in_committee
Committee Housing
Assembly in_committee 2026-01-07
Housing
Summary

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.

Sponsor
Michael Novakhov
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-03-28 Introduced Bill introduced
2026-01-07 Status in_committee
2026-01-07 Latest Action In Assembly Committee
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