Bill Text: NY A10502 | 2017-2018 | General Assembly | Introduced

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Bill Title: Extends provisions relating to the establishment of initial rents in housing accommodations rehabilitated with loans to housing development companies.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2018-07-01 - signed chap.93 [A10502 Detail]

Download: New_York-2017-A10502-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          10502
                   IN ASSEMBLY
                                       May 1, 2018
                                       ___________
        Introduced  by  M.  of A. DILAN, CYMBROWITZ -- read once and referred to
          the Committee on Housing
        AN ACT to amend chapter 84 of the laws of  1993,  amending  the  private
          housing  finance  law  relating  to  establishment of initial rents in
          housing accommodations rehabilitated with loans to housing development
          companies, in relation to the effectiveness thereof
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Section 2 of chapter 84 of the laws of 1993, amending the
     2  private housing finance law relating to establishment of  initial  rents
     3  in  housing  accommodations rehabilitated with loans to housing develop-
     4  ment companies, as amended by chapter 64 of the laws of 2014, is amended
     5  to read as follows:
     6    § 2. This act shall take effect immediately and shall remain  in  full
     7  force  and  effect  until and including June 30, [2018] 2021 after which
     8  date it shall expire and be deemed repealed except that  dwelling  units
     9  made  subject  to  the rent stabilization law of nineteen hundred sixty-
    10  nine pursuant to subdivision 2 of section 576-c of the  private  housing
    11  finance  law,  as  added  by  section one of this act, shall continue to
    12  remain subject to such law.
    13    § 2. This act shall take effect immediately; provided,  however,  that
    14  if  this act shall have become a law after June 30, 2018, this act shall
    15  take effect immediately and shall be retroactive to and deemed  to  have
    16  been in full force and effect on and after June 30, 2018.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15672-01-8