Bill Text: NY A05550 | 2017-2018 | General Assembly | Introduced

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Bill Title: Initiates a four-year moratorium on the dissolution of any urban rental Mitchell-Lama company and establishes a Mitchell-Lama housing program study.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Introduced - Dead) 2018-01-03 - ordered to third reading cal.393 [A05550 Detail]

Download: New_York-2017-A05550-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          5550
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 10, 2017
                                       ___________
        Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
          Committee on Housing
        AN ACT to amend the private housing finance law, in relation to initiat-
          ing a five-year moratorium on the  dissolution  of  any  urban  rental
          Mitchell-Lama company, and in relation to establishing the implementa-
          tion  of  a Mitchell-Lama housing program study; and providing for the
          repeal of certain provisions upon expiration thereof
          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. Moratorium on voluntary dissolution. Notwithstanding any other
     4  provision of law, any urban rental  company  created  pursuant  to  this
     5  article  and  otherwise  eligible  to  voluntarily  dissolve pursuant to
     6  section thirty-five of  this  article  shall  be  prohibited  from  such
     7  dissolution.
     8    §  2. 1. Mitchell-Lama housing program study. New York State Homes and
     9  Community Renewal, in consultation with the New York City Department  of
    10  Housing  Preservation,  shall  execute  a  study  on  the  preservation,
    11  sustainability, reform, and growth of the Mitchell-Lama housing program,
    12  including, but not limited to:
    13    a. recommendations for the  expansion  of  the  Mitchell-Lama  housing
    14  program  to  address  the affordable housing needs of New York's growing
    15  population;
    16    b. taxation and financing models to encourage  housing  developers  to
    17  participate in the Mitchell-Lama housing program;
    18    c.  adjusting  the  amount  of time a company must remain in the Mitc-
    19  hell-Lama housing program before it may voluntarily dissolve;
    20    d. an analysis of current family income  criteria  used  to  determine
    21  access to low- and middle-income housing;
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08254-02-7
        A. 5550                             2
     1    e.  a  determination  of  geographic areas of the state to best locate
     2  potential Mitchell-Lama housing;
     3    f. policy initiative responsive to the present and future needs of the
     4  Mitchell-Lama housing program and of Mitchell-Lama developments owned by
     5  urban rental or mutual companies;
     6    g.  the feasibility of methods to preserve and expand the inventory of
     7  Mitchell-Lama housing relative to and within New York's other  low-  and
     8  middle-income housing programs.
     9    2. Preliminary and final study report. New York State Homes and Commu-
    10  nity  Renewal shall submit to the governor, the speaker and the minority
    11  leader of the assembly, and the temporary  president  and  the  minority
    12  leader  of  the senate a preliminary report with findings concerning the
    13  Mitchell-Lama housing program within two years of the effective date  of
    14  this  section.  Four years after the effective date of this section, New
    15  York State Homes and Community Renewal shall submit to the governor, the
    16  speaker and minority leader of the assembly, and the temporary president
    17  and minority leader of the senate a final  report  with  recommendations
    18  respecting the Mitchell-Lama housing program study.
    19    3.  Assistance.  To  the maximum extent possible, New York State Homes
    20  and Community Renewal shall be entitled  to  request  and  receive,  and
    21  shall  utilize and be provided with such facilities, resources, and data
    22  from any state court, department, division, board,  bureau,  commission,
    23  agency,  or  political  subdivision  that they may reasonably request to
    24  properly execute their responsibilities pursuant to this act.
    25    § 3. This act shall take effect immediately, provided,  however,  that
    26  the  provisions  of  section  one of this act shall expire and be deemed
    27  repealed five years after this act shall have become a law.