Bill Text: NY A00723 | 2015-2016 | General Assembly | Introduced

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Bill Title: Provides that in cities with a population of one million or more, the rent following the dissolution date of Mitchell-Lama developments shall be the last rent authorized for the affected dwelling.

Spectrum: Partisan Bill (Democrat 21-0)

Status: (Introduced - Dead) 2016-04-14 - advanced to third reading cal.498 [A00723 Detail]

Download: New_York-2015-A00723-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                          723
                              2015-2016 Regular Sessions
                                 I N  A S S E M B L Y
                                    January 7, 2015
                                      ___________
       Introduced  by  M.  of  A. ROSENTHAL, BENEDETTO, ROBINSON, COOK, WRIGHT,
         CAMARA, MARKEY, TITONE, DINOWITZ, KAVANAGH, TITUS, CYMBROWITZ, COLTON,
         BROOK-KRASNY, MOSLEY --  Multi-Sponsored  by  --  M.  of  A.  BRENNAN,
         FARRELL, GLICK, GOTTFRIED, HEASTIE, HEVESI, PERRY, RIVERA -- read once
         and referred to the Committee on Housing
       AN  ACT to amend the private housing finance law, in relation to limited
         profit housing companies in a city with a population of one million or
         more
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section  1. The private housing finance law is amended by adding a new
    2  section 35-a to read as follows:
    3    S 35-A. RENT FOLLOWING DISSOLUTION. 1. AS USED IN  THIS  SECTION,  THE
    4  FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
    5    (A)  "AFFECTED DEVELOPMENT" SHALL MEAN HOUSING ACCOMMODATIONS THAT (I)
    6  PRIOR TO THE DISSOLUTION DATE WERE  OPERATED  AS  A  RENTAL  DEVELOPMENT
    7  PURSUANT  TO  THIS  ARTICLE; AND (II) FOLLOWING THE DISSOLUTION DATE ARE
    8  SUBJECT TO THE RENT STABILIZATION LAW OF NINETEEN HUNDRED SIXTY-NINE  OR
    9  THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVENTY-FOUR.
   10    (B)  "AFFECTED DWELLING UNIT" SHALL MEAN A HOUSING UNIT IN AN AFFECTED
   11  DEVELOPMENT.
   12    (C) "AFFECTED HOUSING COMPANY" SHALL  MEAN  A  LIMITED-PROFIT  HOUSING
   13  COMPANY WITH AN AFFECTED DEVELOPMENT.
   14    (D) "DISSOLUTION DATE" SHALL MEAN, WITH RESPECT TO ANY AFFECTED DEVEL-
   15  OPMENT,  THE DATE OF DISSOLUTION OR RECONSTITUTION OF THE AFFECTED HOUS-
   16  ING  COMPANY  WITH  SUCH  AFFECTED  DEVELOPMENT  PURSUANT   TO   SECTION
   17  THIRTY-FIVE OF THIS ARTICLE.
   18    2.  NOTWITHSTANDING  THE  PROVISIONS  OF ANY GENERAL, SPECIAL OR LOCAL
   19  LAW:  (A) THE INITIAL LEGAL REGULATED RENT  FOR  ANY  AFFECTED  DWELLING
   20  UNIT ON AND AFTER THE DISSOLUTION DATE SHALL BE THE LAST RENT AUTHORIZED
   21  FOR  THE  AFFECTED  DWELLING UNIT BEFORE THE DISSOLUTION DATE, INCLUDING
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD04097-01-5
       A. 723                              2
    1  RENTAL SURCHARGES, IF ANY, AND (B) SUCH LEGAL REGULATED RENT  SHALL  NOT
    2  AT  ANY  TIME  BE  SUBJECT  TO  ADJUSTMENT  PURSUANT TO SUBDIVISION A OF
    3  SECTION 26-513 OF THE ADMINISTRATIVE CODE OF THE CITY OF  NEW  YORK,  OR
    4  SUBDIVISION  A  OF  SECTION  9  OF  SECTION  4  OF  THE EMERGENCY TENANT
    5  PROTECTION ACT OF NINETEEN SEVENTY-FOUR.
    6    S 2. This act shall take effect immediately.