Bill Text: NY S01830 | 2013-2014 | General Assembly | Introduced
Bill Title: Initiates a four year moratorium on privatization voting by Mitchell-Lama building shareholders between failed dissolution votes.
Sponsorship: Partisan Bill (Democrat 4)
Status: (Introduced - Dead) 2014-01-08 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S01830 Detail]
Download: New_York-2013-S01830-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
1830
2013-2014 Regular Sessions
I N S E N A T E
(PREFILED)
January 9, 2013
___________
Introduced by Sens. ESPAILLAT, KRUEGER, PERKINS -- read twice and
ordered printed, and when printed to be committed to the Committee on
Housing, Construction and Community Development
AN ACT to amend the private housing finance law, in relation to initiat-
ing a four-year moratorium on privatization voting by Mitchell-Lama
building shareholders
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Section 35 of the private housing finance law is amended by
2 adding a new subdivision 5 to read as follows:
3 5. (A) IN THE EVENT OF A FAILED VOLUNTARY DISSOLUTION VOTE BY A COMPA-
4 NY SUBJECT TO THIS ARTICLE, THERE SHALL BE A FOUR-YEAR MORATORIUM ON
5 VOLUNTARY DISSOLUTION VOTING BY SUCH COMPANY.
6 (B) ANY CITY, TOWN OR VILLAGE MAY ENACT LOCAL LAWS, ORDINANCES, RESOL-
7 UTIONS OR REGULATIONS NOT LESS RESTRICTIVE THAN THOSE PROVIDED IN THIS
8 SUBDIVISION.
9 (C) THE PROVISIONS OF THIS SUBDIVISION SHALL NOT DIMINISH THE REQUIRE-
10 MENTS OF ANY OTHER LAW WHICH MAY APPLY TO SUCH ACTION.
11 S 2. This act shall take effect on the ninetieth day after it shall
12 have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02140-01-3
