Assembly Bill A3600

2011-2012 Legislative Session

Provides for rents subject to the rent stabilization laws upon dissolution of certain types of housing companies

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • 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

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2011-A3600 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Add ยง35-a, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A2443
2013-2014: A3019
2015-2016: A5019
2017-2018: A4685
2019-2020: A7224

2011-A3600 (ACTIVE) - Summary

Provides for rents subject to the rent stabilization laws upon dissolution of certain types of housing companies.

2011-A3600 (ACTIVE) - Bill Text download pdf

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

                                  3600

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            January 26, 2011
                               ___________

Introduced by M. of A. O'DONNELL -- Multi-Sponsored by -- M. of A. GLICK
  -- read once and referred to the Committee on Housing

AN  ACT  to  amend  the private housing finance law, in relation to rent
  regulation after dissolution of a limited-profit housing company

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

  Section  1. The private housing finance law is amended by adding a new
section 35-a to read as follows:
  S 35-A. RENT FOLLOWING DISSOLUTION. 1. AS USED IN  THIS  SECTION,  THE
FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  (A)  "AFFECTED DEVELOPMENT" SHALL MEAN HOUSING ACCOMMODATIONS THAT (I)
ARE LOCATED IN A CITY WITH A POPULATION OF ONE MILLION OR MORE; AND (II)
PRIOR TO THE DISSOLUTION DATE WERE  OPERATED  AS  A  RENTAL  DEVELOPMENT
PURSUANT TO THIS ARTICLE.
  (B)  "AFFECTED DWELLING UNIT" SHALL MEAN A HOUSING UNIT IN AN AFFECTED
DEVELOPMENT.
  (C) "AFFECTED HOUSING COMPANY" SHALL  MEAN  A  LIMITED-PROFIT  HOUSING
COMPANY WITH AN AFFECTED DEVELOPMENT.
  (D) "DISSOLUTION DATE" SHALL MEAN, WITH RESPECT TO ANY AFFECTED DEVEL-
OPMENT,  THE DATE OF DISSOLUTION OR RECONSTITUTION OF THE AFFECTED HOUS-
ING COMPANY WITH SUCH AFFECTED DEVELOPMENT  PURSUANT TO SECTION  THIRTY-
FIVE OF THIS ARTICLE.
  2.  NOTWITHSTANDING  THE  PROVISIONS  OF ANY GENERAL, SPECIAL OR LOCAL
LAW, (A) UPON DISSOLUTION, THE AFFECTED DEVELOPMENT SHALL BE SUBJECT  TO
THE  RENT  STABILIZATION LAWS UNDER THE  EMERGENCY TENANT PROTECTION ACT
OF NINETEEN SEVENTY-FOUR; (B) THE INITIAL LEGAL REGULATED RENT FOR   ANY
AFFECTED  DWELLING  UNIT  ON AND AFTER THE DISSOLUTION DATE SHALL BE THE
LAST RENT AUTHORIZED FOR  THE AFFECTED DWELLING UNIT BEFORE THE  DISSOL-
UTION  DATE,  INCLUDING  RENTAL  SURCHARGES, IF ANY; AND (C)  SUCH LEGAL
REGULATED RENT SHALL NOT AT ANY TIME BE SUBJECT TO  ADJUSTMENT  PURSUANT

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05724-01-1

              

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