Bill Text: NY A00957 | 2019-2020 | General Assembly | Introduced


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 14-0)

Status: (Introduced - Dead) 2020-01-08 - referred to housing [A00957 Detail]

Download: New_York-2019-A00957-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                           957
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                    January 14, 2019
                                       ___________
        Introduced  by  M. of A. L. ROSENTHAL, BENEDETTO, COOK, DINOWITZ, TITUS,
          CYMBROWITZ, COLTON, MOSLEY, BARRON -- Multi-Sponsored by -- M.  of  A.
          GLICK,  GOTTFRIED,  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    §  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 thirty-
    17  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
    22  rental  surcharges,  if any, and (b) such legal regulated rent shall not
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03132-01-9

        A. 957                              2
     1  at any time be subject  to  adjustment  pursuant  to  subdivision  a  of
     2  section  26-513  of  the administrative code of the city of New York, or
     3  subdivision a of section nine of the emergency tenant protection act  of
     4  nineteen seventy-four.
     5    § 2. This act shall take effect immediately.
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