Bill Text: NY S06200 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to additional information required in annual reports for limited-profit housing companies.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2019-11-25 - signed chap.539 [S06200 Detail]
Download: New_York-2019-S06200-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 6200 2019-2020 Regular Sessions IN SENATE May 22, 2019 ___________ Introduced by Sen. PERSAUD -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the private housing finance law, in relation to addi- tional information required in annual reports for limited-profit hous- ing companies The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 32-b of the private housing finance law, as added 2 by chapter 216 of the laws of 1978, is amended to read as follows: 3 § 32-b. Annual reports. The commissioner shall, on or before the first 4 day of July in each year, submit a report to the legislature, the state 5 comptroller, and the attorney general on the implementation of article 6 two of this chapter by the commissioner and the supervising agency and 7 the policy included therein. Such report shall include and not be limit- 8 ed to rent and carrying charge levels, changes therein, operation of the 9 state capital grant program and federal subsidy programs, tax abatement 10 levels, total capital outlay, amortization, mortgage interest rates, 11 income levels served by the housing, surcharge billings and collections 12 and use of surcharge revenues, and vacancy rates. Such report shall 13 also include information regarding any limited-profit housing company 14 that has voluntarily dissolved in the preceding calendar year, and any 15 limited-profit housing company that has filed a notice of intent to 16 dissolve in the current calendar year with the commissioner and the 17 supervising agency. This information shall include, but not be limited 18 to, the name and address of the development, the number of units in the 19 development, a range of amounts of rent offered in the development, the 20 number of tenants in the development, the current vacancy rate in the 21 development, income levels served by the development, how long the 22 limited-profit housing company has participated in the program, and any 23 sales or transfers that have occurred since the limited-profit housing EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08778-01-9S. 6200 2 1 company was created. For the purpose of preparing such report, the 2 commissioner may request, and shall receive, from any municipality or 3 supervising agency such data as he deems necessary or desirable and such 4 municipality or supervising agency shall furnish the requested data 5 within sixty days of such request. 6 § 2. This act shall take effect immediately.
