N.Y. Private Housing Finance Law Section 56
Reports

1.

The agency shall submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee, the comptroller and the director of the budget within ninety days after the end of its fiscal year, a complete and detailed report setting forth:

(1)

its operations and accomplishments;

(2)

its receipts and expenditures during such fiscal year in accordance with the categories or classifications established by the agency for its operating and capital outlay purposes, including a listing of all private consultants engaged by the agency on a contract basis and a statement of the total amount paid to each such private consultant;

(3)

its assets and liabilities at the end of its fiscal year, including a schedule of its mortgage loans and commitments and the status of reserve, special or other funds; and

(4)

a schedule of its bonds and notes outstanding at the end of its fiscal year, together with a statement of the amounts redeemed and incurred during such fiscal year.

2.

The agency shall provide the commissioner of housing and community renewal, on a timely basis, with the data and other information necessary to compile the report or reports required pursuant to Public Housing Law § 20 (Annual reports)section twenty of the public housing law. * NB Effective until July 23, 2025 * § 56. Annual report. The agency shall submit to the governor, the chairman of the senate finance committee, the chairman of the assembly ways and means committee, the comptroller and the director of the budget within ninety days after the end of its fiscal year, a complete and detailed report setting forth:

(1)

its operations and accomplishments;

(2)

its receipts and expenditures during such fiscal year in accordance with the categories or classifications established by the agency for its operating and capital outlay purposes, including a listing of all private consultants engaged by the agency on a contract basis and a statement of the total amount paid to each such private consultant;

(3)

its assets and liabilities at the end of its fiscal year, including a schedule of its mortgage loans and commitments and the status of reserve, special or other funds; and

(4)

a schedule of its bonds and notes outstanding at the end of its fiscal year, together with a statement of the amounts redeemed and incurred during such fiscal year. * NB Effective July 23, 2025

Source: Section 56 — Reports, https://www.­nysenate.­gov/legislation/laws/PVH/56 (updated Sep. 15, 2023; accessed Dec. 21, 2024).

40
Short title 41
Statement of legislative findings and purposes 42
Definitions 43
New York state housing finance agency 44
Powers of the agency 44‑A
Low rent dwelling accommodations 44‑B
Mortgage modifications, evidence of pre-existing indebtedness 44‑C
Federally-aided mortgage loans 45
Transfer of officers and employees 45‑A
Housing trust fund corporation 45‑B
Affordable housing corporation 45‑C
Homeless housing and assistance corporation 46
Notes and bonds of the agency 47
Reserve funds and appropriations 47‑A
State university construction bonds and notes 47‑B
Mental hygiene improvement bonds and notes 47‑C
Special provisions related to certain bonds and notes 47‑D
Health facilities bonds and notes 47‑E
Housing program bonds and notes 48
Agreement with the state 49
State’s right to require redemption of bonds 50
Remedies of noteholders and bondholders 51
Monies of the agency 51‑A
Federal rental assistance program administrative fees 52
Notes and bonds as legal investment 53
Exemption from taxation of property and income 54
Exemption from taxation of notes and bonds 55
Assistance by state officers, departments, boards and commissions 56
Reports 56‑A
Indemnification of members, officers and employees 57
Insured mortgage reserve fund 58
Special revenue housing coverage reserve funds 59
Bond reserve insurance fund 59‑A
Housing trust fund account 59‑B
Affordable housing development account 59‑C
Insured housing initiatives fund 59‑D
Turnkey/enhanced housing account 59‑E
Infrastructure development fund 59‑G
Permanent housing for homeless families fund 59‑H
Manufactured home cooperative fund 59‑I
Homeless housing and assistance account 60
Housing project repair fund 61
Inconsistent provisions in other laws superseded 61‑A
Actions 62
Article not affected if in part unconstitutional
Green check means up to date. Up to date

Accessed:
Dec. 21, 2024

Last modified:
Sep. 15, 2023

§ 56’s source at nysenate​.gov

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