Bill Title: Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to housing [A04724 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2023-02-23	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for New York A04724

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for New York A04724 currently on file.

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