|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 30, 2014||signed chap.63|
delivered to governor
|May 19, 2014||returned to assembly|
3rd reading cal.380
substituted for s6878
|May 19, 2014||substituted by a9360|
|Apr 30, 2014||advanced to third reading|
|Apr 29, 2014||2nd report cal.|
|Apr 28, 2014||1st report cal.380|
|Mar 25, 2014||referred to housing, construction and community development|
senate Bill S6878Signed By Governor
Archive: Last Bill Status Via A9360 - Signed by Governor
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
S6878 - Details
- See Assembly Version of this Bill:
- Law Section:
- Laws Affected:
- Amd §2, Chap 253 of 2004
S6878 - Summary
Extends expiration of the authority granted to the department of housing preservation and development of the city of New York to restructure the rents of dwelling units in buildings foreclosed upon by the federal government.
S6878 - Sponsor Memo
BILL NUMBER:S6878 TITLE OF BILL: An act to amend chapter 253 of the laws of 2004, amending the private housing finance law relating to rehabilitated multiple dwellings acquired and reconveyed by the federal government, in relation to extending the effectiveness thereof SUMMARY OF PROVISIONS: Chapter 253 of the Laws of 2004 granted the New York City Department of Housing Preservation and Development the authority to restructure the rents of dwelling units in buildings acquired by the federal government as a result of the foreclosure of a mortgage loan insured or held by the federal government. The restructuring authority was conditioned upon the properties being rehabilitated, and is scheduled to expire on June 30, 2014. This bill extends this authority to June 30, 2018. REASONS FOR SUPPORT: The federal 203(k) home mortgage scandal left approximately 500 small homes, tenements and brownstones in New York City facing foreclosure because the properties were bought and resold at inflated prices with owners in many instances pocketing the money that was intended for necessary repairs.
S6878 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6878 I N S E N A T E March 25, 2014 ___________ Introduced by Sen. YOUNG -- 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 253 of the laws of 2004, amending the private housing finance law relating to rehabilitated multiple dwellings acquired and reconveyed by the federal government, in relation to extending 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 253 of the laws of 2004, amending the private housing finance law relating to rehabilitated multiple dwellings acquired and reconveyed by the federal government, as amended by chapter 414 of the laws 2009, is amended to read as follows: S 2. This act shall take effect immediately and shall expire and be deemed repealed June 30,  2018. S 2. This act shall take effect immediately; provided, however, that if this act shall have become a law on or after June 30, 2014, this act shall take effect immediately and shall be deemed to have been in full force and effect on and after June 30, 2014. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14524-01-4
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