Bill Text: NY S06691 | 2023-2024 | General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Requires that any limited liability company who files a rent registration statement shall include a list of all members of such limited liability company and each member's ownership interest.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed) 2024-05-22 - ADVANCED TO THIRD READING [S06691 Detail]

Download: New_York-2023-S06691-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          6691

                               2023-2024 Regular Sessions

                    IN SENATE

                                       May 5, 2023
                                       ___________

        Introduced  by  Sen.  CLEARE -- 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 emergency tenant protection act of nineteen seven-
          ty-four and the administrative code  of  the  city  of  New  York,  in
          relation  to rent registration statements filed by a limited liability
          company

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Section  12-a  of section 4 of chapter 576 of the laws of
     2  1974, constituting the  emergency  tenant  protection  act  of  nineteen
     3  seventy-four,  is  amended  by  adding  a new subdivision b-1 to read as
     4  follows:
     5    b-1. Notwithstanding any other law to the contrary, when the owner  of
     6  a  housing accommodation is a limited liability company and is register-
     7  ing such housing accommodation pursuant to this  section,  such  limited
     8  liability  company shall be required to include in its submission to the
     9  state division of housing and community renewal a list of all direct and
    10  indirect owners of the membership interests of  such  limited  liability
    11  company and the proportion of each direct or indirect member's ownership
    12  interest in such limited liability company. The requirement set forth by
    13  this  section  shall  be  in  addition  to the data required pursuant to
    14  subdivision a of this section.
    15    § 2. Section 26-517 of the administrative code of the city of New York
    16  is amended by adding a new subdivision b-1 to read as follows:
    17    b-1. Notwithstanding any other law to the contrary, when the owner  of
    18  a  housing accommodation is a limited liability company and is register-
    19  ing such housing accommodation pursuant to this  section,  such  limited
    20  liability  company shall be required to include in its submission to the
    21  state division of housing and community renewal a list of all direct and
    22  indirect owners of the membership interests of  such  limited  liability

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09857-02-3
        S. 6691                             2

     1  company and the proportion of each direct or indirect member's ownership
     2  interest in such limited liability company. The requirement set forth by
     3  this  section  shall  be  in  addition  to the data required pursuant to
     4  subdivision a of this section.
     5    §  3.  This act shall take effect immediately; provided, however, that
     6  the amendments to section 26-517 of chapter 4 of title 26 of the  admin-
     7  istrative  code  of the city of New York made by section two of this act
     8  shall expire on the same date as such law expires and shall  not  affect
     9  the expiration of such law as provided under section 26-520 of such law.