NY S01734 | 2023-2024 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 7-0)
Status: Introduced on January 13 2023 - 25% progression, died in committee
Action: 2024-01-03 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
Pending: Senate Housing, Construction, and Community Development Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 13 2023 - 25% progression, died in committee
Action: 2024-01-03 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
Pending: Senate Housing, Construction, and Community Development Committee
Text: Latest bill text (Introduced) [HTML]
Summary
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.
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.
Sponsors
| Sen. Liz Krueger [D] | Sen. Jamaal Bailey [D] | Sen. Brad Hoylman-Sigal [D] | Sen. John Liu [D] |
| Sen. Gustavo Rivera [D] | Sen. Luis Sepulveda [D] | Sen. Jose Serrano [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-03 | Senate | REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT |
| 2023-01-13 | Senate | REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT |
Same As/Similar To
A04724 (Same As) 2024-01-03 - referred to housing
