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

                                   428

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 7, 2015
                               ___________

Introduced  by M. of A. ROSENTHAL, JAFFEE, COOK, CAMARA, TITONE, WRIGHT,
  ROBINSON, PERRY -- Multi-Sponsored by --  M.  of  A.  FARRELL,  GLICK,
  GOTTFRIED, SCARBOROUGH, TITUS -- read once and referred to the Commit-
  tee on Housing

AN  ACT authorizing the New York state division of housing and community
  renewal to study state and locally aided  housing  programs  and  make
  recommendations  for  the preservation, modernization, and increase in
  the supply of such housing; to amend the private housing finance  law,
  in  relation to providing a moratorium on the voluntary dissolution of
  limited profit, limited dividend and redevelopment housing  companies;
  and  providing  for  the  repeal of certain provisions upon expiration
  thereof

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

  Section  1.  New  York state and its localities have invested for more
than a half century in the creation of low and middle income housing  to
benefit those most in need and to the general benefit of state and local
economies.  In  many  cases such housing has fallen into disrepair or is
being lost as affordable housing due to  statutory  provisions  allowing
owners  to  dissolve  housing  companies.  The unmet need for affordable
housing is presently greater than at any time in the state's history.  A
temporary moratorium on the dissolution of any housing company is neces-
sary for the New York state division of housing and community renewal to
complete its work and make recommendations.
  S  2.  The division of housing and community renewal shall undertake a
comprehensive study of the present status of state and locally aided low
and middle income housing programs and make recommendations with respect
to the preservation, modernization, and expansion of the number of hous-
ing units provided by such programs. Such recommendations shall include,
but not be limited to, methods that may be employed by state  and  local

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

                                                           LBD04057-01-5

A. 428                              2

governments  to  retain  and  expand the existing inventory of state and
locally aided low and middle income  housing  so  as  to  preserve  such
inventory  of affordable housing for the persons and families such hous-
ing is designed to serve.
  S 3. The division of housing and community renewal shall make a report
to  the  governor  and  the legislature of its findings, conclusions and
recommendations no later than one year after the effective date of  this
act  and  shall  submit with its report such legislative proposals as it
deems necessary to implement its recommendations.
  S 4. To the maximum extent  feasible,  the  division  of  housing  and
community  renewal  shall  be  entitled to request and receive and shall
utilize and be provided with such facilities, resources and data of  any
court,  department, division, board, bureau, commission or agency of the
state or any political subdivision thereof as it may reasonably  request
to carry out properly its responsibilities pursuant to this act.
  S  5.  Section  35  of  the  private housing finance law is amended by
adding a new subdivision 5 to read as follows:
  5. NOTWITHSTANDING ANY OTHER PROVISION OF  THIS  SECTION,  NO  COMPANY
SHALL  BE VOLUNTARILY DISSOLVED, WITHOUT THE CONSENT OF THE COMMISSIONER
OR SUPERVISING AGENCY, AS THE CASE MAY BE, ON  OR  AFTER  THE  EFFECTIVE
DATE OF THIS SUBDIVISION.
  S  6.  Section  96  of  the  private housing finance law is amended by
adding a new subdivision 3 to read as follows:
  3. NOTWITHSTANDING ANY OTHER PROVISION OF  THIS  SECTION,  NO  COMPANY
SHALL BE VOLUNTARILY DISSOLVED OR TERMINATED, WITHOUT THE CONSENT OF THE
COMMISSIONER, ON OR AFTER THE EFFECTIVE DATE OF THIS SUBDIVISION.
  S  7.  Section  123  of  the private housing finance law is amended by
adding a new subdivision 8 to read as follows:
  8. NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION, NO  REDEVELOP-
MENT  COMPANY  SHALL  DISSOLVE  OR TERMINATE, WITHOUT THE CONSENT OF THE
LOCAL LEGISLATIVE BODY, ON OR AFTER THE EFFECTIVE DATE OF THIS  SUBDIVI-
SION.
  S  8.  This act shall take effect immediately; provided, that sections
five, six and seven of this act shall  expire  and  be  deemed  repealed
twenty-four  months  after  it shall have become a law.  Effective imme-
diately, the addition, amendment and/or repeal of any rule or regulation
necessary for the implementation of this act on its  effective  date  is
authorized to be made on or before such effective date.