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]

Text: Latest bill text (Introduced) [HTML]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Assemblymember Linda Rosenthal [D]	Primary	Sponsored Bills	HD-067	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on NY A04724