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Assembly Bill A723

2015-2016 Legislative Session

Provides that in N.Y. city, the rent following the dissolution date shall be the last rent authorized for the affected dwelling

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Archive: Last Bill Status - On Floor Calendar

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2015-A723 (ACTIVE) - Details

Law Section:
Private Housing Finance Law
Laws Affected:
Add ยง35-a, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9854
2011-2012: A1926
2013-2014: A1128
2017-2018: A4159
2019-2020: A957
2021-2022: A1904
2023-2024: A467
2025-2026: A887

2015-A723 (ACTIVE) - Summary

Provides that in cities with a population of one million or more, the rent following the dissolution date of Mitchell-Lama developments shall be the last rent authorized for the affected dwelling.

2015-A723 (ACTIVE) - Bill Text download pdf 

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

                                   723

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 7, 2015
                               ___________

Introduced  by  M.  of  A. ROSENTHAL, BENEDETTO, ROBINSON, COOK, WRIGHT,
  CAMARA, MARKEY, TITONE, DINOWITZ, KAVANAGH, TITUS, CYMBROWITZ, COLTON,
  BROOK-KRASNY, MOSLEY --  Multi-Sponsored  by  --  M.  of  A.  BRENNAN,
  FARRELL, GLICK, GOTTFRIED, HEASTIE, HEVESI, PERRY, RIVERA -- read once
  and referred to the Committee on Housing

AN  ACT to amend the private housing finance law, in relation to limited
  profit housing companies in a city with a population of one million or
  more

  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)
PRIOR TO THE DISSOLUTION DATE WERE  OPERATED  AS  A  RENTAL  DEVELOPMENT
PURSUANT  TO  THIS  ARTICLE; AND (II) FOLLOWING THE DISSOLUTION DATE ARE
SUBJECT TO THE RENT STABILIZATION LAW OF NINETEEN HUNDRED SIXTY-NINE  OR
THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVENTY-FOUR.
  (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) 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 DISSOLUTION DATE, INCLUDING

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04097-01-5

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