Establishes the New York state equine industry board, to advise and make recommendations to the state agencies on state government plans, policies and programs affecting all aspects of equine industry, and in such areas as its experience and studies may indicate to be appropriate.
Establishes a housing infrastructure tax credit to provide a credit of up to ten percent of costs for infrastructure projects related to the construction of new homes or multiple dwellings commenced and completed within a specific time period.
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.
Enacts the "homebuyer renovation property tax exemption act" to grant an exemption of up to fifteen thousand dollars from taxation levied by or on behalf of any county, city, town, village or school district in which such residential property is located for a period of five years from the date of purchase of the property; defines "primary residential property".
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.
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.
Includes mixed residential and commercial property within the provisions of the affordable home ownership development program thus authorizing the affordable housing corporation to fund the construction or rehabilitation of housing that also contains a commercial retailing business.
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.