New York § 558 - 558Subsidies
Full text of New York New York Consolidated Laws § 558 — 558Subsidies, with citation guidance and answers to common questions.
§ 558. 558Subsidies
§ 558. Subsidies. 1. The obligation of the state to pay periodic subsidies to an authority or municipality for a project which has been leased or sold to a housing company, and the obligation of a municipality to make subsidies in at least an equal amount, as required by section seventy-three of the public housing law, shall cease as of the last day of the fiscal year next after the effective date of the grant, sale, lease or conveyance. 2. In the event that an authority or municipality which has granted, sold, leased or conveyed a project to a housing company, for any reason or in any way resumes possession of such project, the obligations of the state and municipality to pay subsidies, as provided by the terms of section seventy-three of the public housing law, shall be deemed restored as of the first day of the fiscal year next prior to the date of such resumption of possession of such project.
Frequently Asked Questions About New York § 558
What does New York Consolidated Laws § 558 cover?
Section 558 ("558Subsidies") is part of the New York Consolidated Laws, the codified statutory law of New York. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New York § 558?
A common citation format is "New York Consolidated Laws § 558" (New York). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 558 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New York.