The Senate and Assembly passed and the Governor signed into law, the omnibus housing bill, Chapter 97 of the Laws of 2011. In addition to extending rent regulation, and capping property taxes, the bill extends 421-a for four years - without the prevailing wage requirement first proposed in January this year. The final bill can be viewed at: http://www.assembly.state.ny.us/leg/?default_fld=&bn=A08518&term=2011&Summary=Y&Actions=Y&Text=Y. The 421-a provisions can be found beginning on page 40.
[Source: NYSAFAH]
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