Bill Text: NY S06605 | 2021-2022 | General Assembly | Introduced

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Bill Title: Extends the existing authority of the local housing agency in the city of New York, the department of housing preservation and development until June 30, 2024 to restructure rents for housing development fund companies that have purchased and are rehabilitating occupied multiple dwellings.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2021-06-29 - SIGNED CHAP.177 [S06605 Detail]

Download: New_York-2021-S06605-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          6605

                               2021-2022 Regular Sessions

                    IN SENATE

                                      May 10, 2021
                                       ___________

        Introduced  by  Sen.  JACKSON  -- (at request of the NYC H.P.D.) -- read
          twice and ordered printed, and when printed to  be  committed  to  the
          Committee on Housing, Construction and Community Development

        AN  ACT  to  amend  chapter  84 of the laws of 1993 amending the private
          housing finance law relating to  establishment  of  initial  rents  in
          housing accommodations rehabilitated with loans to housing development
          companies, 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 2 of chapter 84 of the laws of  1993  amending  the
     2  private  housing  finance law relating to establishment of initial rents
     3  in housing accommodations rehabilitated with loans to  housing  develop-
     4  ment companies, as amended by chapter 93 of the laws of 2018, is amended
     5  to read as follows:
     6    §  2.  This act shall take effect immediately and shall remain in full
     7  force and effect until and including June 30, [2021]  2024  after  which
     8  date  it  shall expire and be deemed repealed except that dwelling units
     9  made subject to the rent stabilization law of  nineteen  hundred  sixty-
    10  nine  pursuant  to subdivision 2 of section 576-c of the private housing
    11  finance law, as added by section one of  this  act,  shall  continue  to
    12  remain subject to such law.
    13    §  2.  This act shall take effect immediately; provided, however, that
    14  if this act shall have become a law after June 30, 2021, it  shall  take
    15  effect  immediately  and shall be retroactive to and deemed to have been
    16  in full force and effect on and after June 30, 2021.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11214-01-1