Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 29, 2010 |
signed chap.143 |
Jun 25, 2010 |
delivered to governor |
Jun 15, 2010 |
returned to senate passed assembly ordered to third reading rules cal.163 substituted for a11142 |
Jun 15, 2010 |
substituted by s6971 rules report cal.163 reported reported referred to rules |
Jun 07, 2010 |
reported referred to ways and means |
May 19, 2010 |
referred to housing |
Assembly Bill A11142
Signed By Governor2009-2010 Legislative Session
Sponsored By
JEFFRIES
Archive: Last Bill Status Via S6971 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
co-Sponsors
Vito Lopez
multi-Sponsors
Rhoda Jacobs
2009-A11142 (ACTIVE) - Details
- See Senate Version of this Bill:
- S6971
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd ยง2, Chap 84 of 1993
2009-A11142 (ACTIVE) - Sponsor Memo
BILL NUMBER:A11142 TITLE OF BILL: 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 GENERAL PURPOSE: This bill extends the existing authority of the local housing agency in the City of New York, the Department of Housing Pres- ervation and Development ("HPD") to restructure rents for housing devel- opment fund companies that have purchased and are rehabilitating occu- pied multiple dwellings pursuant to Article XI of the Private Housing Finance Law ("PHFL"). Currently, the ability to restructure rents expires on June 30, 2010. This legislation extends such authority to June 30, 2014. JUSTIFICATION: Many residential buildings proposed for acquisition and rehabilitation by housing development fund companies are not econom- ically viable without a restructuring of the rents. Rent restructuring authority is essential to ensure that the rents are adequate to cover the monthly operating costs of the building and the debt service of the low interest rehabilitation loans. Rent restructuring authority exists in other statutes utilized by the City of New York's Department of Hous- ing Preservation and Development, such as Article 8, 8-A and 15 of Private Housing Finance Law and Article 16 of the General Municipal Law.
2009-A11142 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 11142 I N A S S E M B L Y May 19, 2010 ___________ Introduced by M. of A. JEFFRIES, V. LOPEZ -- read once and referred to the Committee on Housing 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: Section 1. Section 2 of 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 develop- ment fund companies, as amended by chapter 132 of the laws of 2006, is amended to read as follows: S 2. This act shall take effect immediately and shall remain in full force and effect until and including June 30, [2010] 2014 after which date it shall expire and be deemed repealed except that dwelling units made subject to the rent stabilization law of nineteen hundred sixty- nine pursuant to subdivision 2 of section 576-c of the private housing finance law, as added by section one of this act, shall continue to remain subject to such law. S 2. This act shall take effect immediately; provided, however, that if this act shall have become a law after June 30, 2010, this act shall take effect immediately and shall be deemed to have been in full force and effect on and after June 30, 2010. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD16212-01-0
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