Bill Text: NY S09413 | 2023-2024 | General Assembly | Introduced

New York Senate Bill 9413

Introduced

Bill Title: Extends the authority of the local housing agency in New York city to restructure rents in certain residential buildings.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2024-05-28 - SUBSTITUTED BY A10210 [S09413 Detail]

Download: New_York-2023-S09413-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          9413

                    IN SENATE

                                      May 15, 2024
                                       ___________

        Introduced  by  Sen.  CLEARE  --  (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 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.
                                                                   LBD15467-01-4