N.Y. Private Housing Finance Law § 51-a: Federal rental assistance program administrative fees

§ 51-a. Federal rental assistance program administrative fees. All

administrative fee monies received by the agency from the federal

government pursuant to section eight of the United States housing act of

1937, as amended by the Housing and Community Development Act of 1974

and subsequent amendments, shall be allocated according to the following

schedule:

1. ninety percent of such fees shall be allocated to the

not-for-profit corporations or local government agencies providing

services under such section eight;

2. ten percent of such fees shall be retained by the state and unless

otherwise allocated pursuant to an agreement between the agency and the

division of housing and community renewal:

(a) ninety-five percent of such amount shall be allocated to the

division of housing and community renewal; and

(b) five percent shall be retained by the agency.