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Assembly Bill A5011

2009-2010 Legislative Session

Extends rent stabilization to dwelling units owned by a cooperative or condominium basis

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Archive: Last Bill Status - In Assembly Committee

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2009-A5011 (ACTIVE) - Details

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

2009-A5011 (ACTIVE) - Summary

Extends rent stabilization laws to cover dwelling units in a cooperative or condominium building which become vacant after conversion until such unit is occupied for 2 consecutive years as the primary residence of the owner and where such building would otherwise be subject to rent stabilization laws.

2009-A5011 (ACTIVE) - Bill Text download pdf 

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

                                  5011

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            February 10, 2009
                               ___________

Introduced by M. of A. V. LOPEZ, COOK, GREENE, CLARK, DINOWITZ, KAVANAGH
  --  Multi-Sponsored  by  -- M. of A. BRENNAN, GLICK, GOTTFRIED, MAYER-
  SOHN, PRETLOW -- 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  rent  stabilization of dwelling units owned on a cooper-
  ative or condominium basis

  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. HOUSING ACCOMMODATIONS CONTAINED IN BUILDINGS OWNED AS COOPERATIVES
OR CONDOMINIUMS TO WHICH THIS CODE WOULD OTHERWISE APPLY  PROVIDED  SUCH
HOUSING  ACCOMMODATIONS WERE NOT CONTAINED IN BUILDINGS OWNED AS COOPER-
ATIVES OR CONDOMINIUMS BUT ONLY UNTIL SUCH TIME  AS  ANY  SUCH  ACCOMMO-
DATION SHALL HAVE BEEN OCCUPIED FOR A PERIOD OF TWO CONSECUTIVE YEARS AS
THE  PRIMARY RESIDENCE OF ANY OWNER OF THE SHARES ALLOCATED TO SUCH UNIT
OR ANY MEMBER OF SUCH OWNER'S IMMEDIATE FAMILY IN THE CASE OF A  COOPER-
ATIVE  OR  ANY OWNER OF THE UNIT OR ANY MEMBER OF SUCH OWNER'S IMMEDIATE
FAMILY IN THE CASE OF A CONDOMINIUM SINCE THE  TIME  SUCH  BUILDING  WAS
FIRST OWNED AS A COOPERATIVE OR CONDOMINIUM.
  S  2.  This act shall take effect immediately provided that the amend-
ment 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.
                                                           LBD08359-01-9

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