New York § 1231 - 1231Definitions
Full text of New York New York Consolidated Laws § 1231 — 1231Definitions, with citation guidance and answers to common questions.
§ 1231. 1231Definitions
§ 1231. Definitions. 1. "Corporation" shall mean the housing trust fund corporation established in section forty-five-a of this chapter. 2. "Rural and urban community investment fund program" shall mean activities by an eligible applicant for a specific work or series of works for the creation, preservation or improvement of affordable housing, or the creation, preservation or improvement of the commercial, retail or community facilities component of mixed use affordable residential developments, in rural and urban areas of the state. 3. "Rural area of the state" shall mean cities, towns and villages having a population of less than twenty-five thousand as determined by the last federal decennial census. 4. "Urban area of the state" shall mean any unit of local government within the state with a population of more than or equal to twenty-five thousand persons as determined by the last federal decennial census. 5. "Eligible applicant" shall include a not-for-profit corporation or charitable organization, or a wholly-owned subsidiary of such a corporation or organization, or a private for-profit developer such as a person, corporation, partnership or limited liability company. 6. "Affordable residential development" shall include residential units that are rent restricted and occupied by persons and families whose income does not exceed ninety percent of area median income for the county in which a project is located as calculated by the United States department of housing and urban development.
Frequently Asked Questions About New York § 1231
What does New York Consolidated Laws § 1231 cover?
Section 1231 ("1231Definitions") 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 § 1231?
A common citation format is "New York Consolidated Laws § 1231" (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 § 1231 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.