Bill Text: NY S01126 | 2019-2020 | General Assembly | Introduced

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Bill Title: Authorizes the state division of housing and community renewal to study housing programs for low and middle income families, and provides for a moratorium on the voluntary dissolution of limited profit, limited dividend and redevelopment housing companies.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S01126 Detail]

Download: New_York-2019-S01126-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          1126
                               2019-2020 Regular Sessions
                    IN SENATE
                                    January 11, 2019
                                       ___________
        Introduced  by Sen. BENJAMIN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Housing, Construction  and
          Community Development
        AN  ACT to direct the division of housing and community renewal to study
          state and locally aided housing programs and make recommendations  for
          the  preservation,  modernization  and  increase in the supply of such
          housing; to amend the private housing  finance  law,  in  relation  to
          providing a moratorium on the voluntary dissolution of limited profit,
          limited  dividend  and  redevelopment housing companies; 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. Legislative intent.  New York state and its localities have
     2  invested  for more than a half century in the creation of low and middle
     3  income housing to benefit those most in need and to the general  benefit
     4  of state and local economies. In many cases such housing has fallen into
     5  disrepair  or  is  being  lost  as  affordable  housing due to statutory
     6  provisions allowing owners to dissolve housing companies. The unmet need
     7  for affordable housing is presently greater than  at  any  time  in  the
     8  state's  history. A temporary moratorium on the dissolution of any hous-
     9  ing company is necessary for  the  division  of  housing  and  community
    10  renewal to complete its work and make recommendations.
    11    §  2.  The division of housing and community renewal shall undertake a
    12  comprehensive study of the present status of state and locally aided low
    13  and middle income housing programs and make recommendations with respect
    14  to the preservation, modernization and expansion of the number of  hous-
    15  ing units provided by such programs. Such recommendations shall include,
    16  but  not  be limited to, methods that may be employed by state and local
    17  governments to retain and expand the existing  inventory  of  state  and
    18  locally  aided  low  and  middle  income  housing so as to preserve such
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06076-01-9
        S. 1126                             2
     1  inventory of affordable housing for the persons and families such  hous-
     2  ing is designed to serve.
     3    § 3. The division of housing and community renewal shall make a report
     4  to  the  governor  and  the legislature of its findings, conclusions and
     5  recommendations no later than one year after the effective date of  this
     6  act  and  shall  submit with its report such legislative proposals as it
     7  deems necessary to implement its recommendations.
     8    § 4. To the maximum extent  feasible,  the  division  of  housing  and
     9  community  renewal  shall  be  entitled to request and receive and shall
    10  utilize and be provided with such facilities, resources and data of  any
    11  court,  department, division, board, bureau, commission or agency of the
    12  state or any political subdivision thereof as it may reasonably  request
    13  to carry out properly its responsibilities pursuant to this act.
    14    §  5.  Section  35  of  the  private housing finance law is amended by
    15  adding a new subdivision 5 to read as follows:
    16    5. Notwithstanding any other provision of  this  section,  no  company
    17  shall  be voluntarily dissolved, without the consent of the commissioner
    18  or supervising agency, as the case may be.
    19    § 6. Section 96 of the private  housing  finance  law  is  amended  by
    20  adding a new subdivision 3 to read as follows:
    21    3.  Notwithstanding  any  other  provision of this section, no company
    22  shall be voluntarily dissolved or terminated, without the consent of the
    23  commissioner.
    24    § 7. Section 123 of the private housing  finance  law  is  amended  by
    25  adding a new subdivision 8 to read as follows:
    26    8.  Notwithstanding any other provision of this section, no redevelop-
    27  ment company shall dissolve or terminate, without  the  consent  of  the
    28  local legislative body.
    29    §  8.  This act shall take effect immediately; provided, that sections
    30  five, six and seven of this act shall  expire  and  be  deemed  repealed
    31  twenty-four months after it shall have become a law.