Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 30, 2014 |
signed chap.64 delivered to governor |
Jun 19, 2014 |
returned to assembly passed senate 3rd reading cal.779 substituted for s7065 |
Jun 19, 2014 |
substituted by a9363 |
May 21, 2014 |
advanced to third reading |
May 20, 2014 |
2nd report cal. |
May 19, 2014 |
1st report cal.779 |
Apr 23, 2014 |
referred to housing, construction and community development |
Senate Bill S7065
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A9363 - 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
2013-S7065 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9363
- Law Section:
- Housing
- Laws Affected:
- Amd §2, Chap 84 of 1993
2013-S7065 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7065 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 SUMMARY OF PROVISIONS: This bill extends the existing authority of the local housing agency in the City of New York, the Department of Housing Preservation and Development to restructure rents for housing development fund companies that have purchased and are rehabilitating occupied multiple dwellings pursuant to Article 11 of the Private Housing Finance Law. Currently, the ability to restructure rents expires on June 30, 2014. This legislation extends such authority to June 30, 2018. REASONS FOR SUPPORT: Many residential buildings proposed for acquisition and rehabilitation by housing development fund companies are not economically 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
2013-S7065 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7065 I N S E N A T E April 23, 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 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 companies, as amended by chapter 143 of the laws of 2010, 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, [2014] 2018 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, except that if this act shall have become a law 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. LBD14803-01-4
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