Establishes the community development financial institution disability housing program within the New York state urban development corporation

This bill creates a new program within the New York State Urban Development Corporation to provide funding for housing designed for people with mental and developmental disabilities. It authorizes the corporation to use up to $25 million from its community development financial institutions fund to support community development financial institutions that help build supportive and supervised living facilities. The program requires the corporation to work with state mental health and disability offices to create rules for how the money will be distributed. The changes will take effect 180 days after the bill becomes law, allowing time for necessary regulations to be prepared.