Bill Text: NY A01904 | 2021-2022 | 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 12-0)

Status: (Introduced - Dead) 2022-01-05 - referred to housing [A01904 Detail]

Download: New_York-2021-A01904-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1904

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    January 11, 2021
                                       ___________

        Introduced by M. of A. L. ROSENTHAL, BENEDETTO, COOK, DINOWITZ, CYMBROW-
          ITZ,  COLTON,  BARRON  --  Multi-Sponsored by -- M. of A. GLICK, GOTT-
          FRIED, HEVESI, PERRY, J. 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.
                                                                   LBD00968-01-1
        A. 1904                             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.