Internal prototype — noindexed, not linked from public navigation yet.

Statutes » New York » LFN Law » Article 2

N.Y. LFN Law § 143.00

This is the official text of N.Y. LFN Law § 143.00, part of New York’s LFN Law — part of the compiled statutory law of New York, published by the state as "LFN Law." Browse the sections below, each linked to its official government source.

Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.

Contract liabilities: housing guarantees or subsidies; procedure for ascertaining the amount of such liabilities

Official statutory text

§ 143.00 Contract liabilities: housing guarantees or subsidies;\nprocedure for ascertaining the amount of such liabilities. a. The\namount of the liability of a city, town or village on account of any\ncontract for capital or periodic subsidies to a housing authority to be\npaid subsequent to the then current year shall be deemed indebtedness in\nthe amount of the commuted value of the total of such subsidies\nremaining unpaid, calculated on the basis of an annual interest rate of\nfour per centum.\n b. The amount of the liability of a city, town or village arising from\na guarantee of the principal of and interest on indebtedness contracted\nby a housing authority shall be deemed indebtedness in the amount of the\nface value of the principal thereof remaining unpaid. If only interest\nis guaranteed, then the amount of liability arising therefrom shall be\ndeemed indebtedness in the amount of the commuted value of the total\ninterest guaranteed and remaining unpaid, calculated on the basis of an\nannual interest rate of four per centum.\n

Status: in_force · Read it on the official government site

Need a lawyer in New York?

Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.