Bill Text: NY A10210 | 2023-2024 | General Assembly | Introduced

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Bill Title: Extends certain provisions relating to establishing initial rents in respect of certain loans to owners of existing multiple dwellings to June 30, 2027.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed) 2024-05-28 - RETURNED TO ASSEMBLY [A10210 Detail]

Download: New_York-2023-A10210-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          10210

                   IN ASSEMBLY

                                      May 13, 2024
                                       ___________

        Introduced  by COMMITTEE ON RULES -- (at request of M. of A. Alvarez) --
          read once and referred to the Committee on Housing

        AN ACT to amend chapter 449 of the laws of 1986,  amending  the  private
          housing  finance law relating to establishing initial rents in respect
          of certain loans to owners of existing multiple dwellings, 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 5 of chapter 449 of the laws of 1986, amending the
     2  private housing finance law relating to establishing  initial  rents  in
     3  respect  of  certain  loans to owners of existing multiple dwellings, as
     4  amended by chapter 226 of the laws  of  2021,  is  amended  to  read  as
     5  follows:
     6    §  5.  This  act  shall  take  effect  immediately;  provided that the
     7  provisions of sections one, two and four of this  act  shall  remain  in
     8  full force and effect until and including June 30, [2024] 2027, provided
     9  further  that  dwelling units made subject to the rent stabilization law
    10  of nineteen hundred sixty-nine pursuant to such  sections  of  this  act
    11  shall continue to remain subject to such law.
    12    §  2.  This act shall take effect immediately; provided, however, that
    13  if this act shall have become a law after June 30,  2024,  it  shall  be
    14  deemed to have been in full force and effect on and after June 30, 2024.





         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD15549-01-4