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Assembly Bill A5006

2009-2010 Legislative Session

Exempts housing accommodations in buildings owned by limited-profit housing companies, other than mutual companies, from application of certain provisions of law

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Archive: Last Bill Status - In Assembly Committee

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2009-A5006 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
New York City Administrative Code
Laws Affected:
Amd ยง26-504, NYC Ad Cd

2009-A5006 (ACTIVE) - Summary

Exempts housing accommodations in buildings owned by limited-profit housing companies, other than mutual companies, which are no longer owned by such companies by reason of voluntary dissolution, from the application of certain provisions of the rent stabilization law.

2009-A5006 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5006

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 10, 2009
                               ___________

Introduced  by  M. of A. V. LOPEZ, BROOK-KRASNY, ROSENTHAL, BING, CAMARA
  -- Multi-Sponsored by -- M. of A. BENJAMIN, GLICK, GOTTFRIED,  MILLMAN
  -- read once and referred to the Committee on Housing

AN  ACT  to  amend  the  administrative code of the city of New York, in
  relation to limited-profit housing companies

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Section  26-504 of the administrative code of the city of
New York is amended by adding a new subdivision d to read as follows:
  D. NOTWITHSTANDING THE PROVISIONS OF SUBPARAGRAPH (A), (B), (D) OR (G)
OF PARAGRAPH ONE OF SUBDIVISION A OF THIS SECTION OR PARAGRAPH THREE  OR
FIVE OF SUBDIVISION A OF SECTION FIVE OF THE EMERGENCY TENANT PROTECTION
ACT  OF NINETEEN SEVENTY-FOUR, HOUSING ACCOMMODATIONS IN BUILDINGS WHICH
WERE OWNED BY A COMPANY ESTABLISHED UNDER ARTICLE  TWO  OF  THE  PRIVATE
HOUSING  FINANCE  LAW,  OTHER THAN A MUTUAL COMPANY, WHICH ARE NO LONGER
OWNED BY SUCH COMPANY BY REASON OF A VOLUNTARY DISSOLUTION  PURSUANT  TO
SECTION  THIRTY-FIVE  OF  SUCH  LAW.  THE PROVISIONS OF SUBDIVISION A OF
SECTION 26-513 OF THIS CHAPTER SHALL NOT APPLY TO ANY  HOUSING  ACCOMMO-
DATION  WHICH  BECAME  SUBJECT TO THIS LAW PURSUANT TO THE PROVISIONS OF
THIS SUBDIVISION.
  S 2. This act shall take effect immediately and  shall  apply  in  the
case  of housing companies that dissolved on, before or after such date;
provided that the amendments to section 26-504 of the rent stabilization
law of nineteen hundred sixty-nine made by section one of this act shall
expire on the same date as such law expires and  shall  not  affect  the
expiration of such law as provided under section 26-520 of such law.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD08339-01-9

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