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Assembly Bill A4775

2017-2018 Legislative Session

Relates to additional information required in annual reports for limited-profit housing companies

download bill text pdf

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Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee

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2017-A4775 (ACTIVE) - Details

See Senate Version of this Bill:
S625
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §32-b, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2015-2016: A7973, S8150
2019-2020: A4898, S6200

2017-A4775 (ACTIVE) - Summary

Relates to additional information required in annual reports for limited-profit housing companies.

2017-A4775 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4775
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 3, 2017
                                ___________
 
 Introduced  by M. of A. BLAKE, SIMON, PICHARDO, MOSLEY, BUCHWALD -- read
   once and referred to the Committee on Housing
 
 AN ACT to amend the private housing finance law, in  relation  to  addi-
   tional information required in annual reports for limited-profit hous-
   ing companies

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 32-b of the private housing finance law,  as  added
 by chapter 216 of the laws of 1978, is amended to read as follows:
   § 32-b. Annual reports. The commissioner shall, on or before the first
 day  of July in each year, submit a report to the legislature, THE STATE
 COMPTROLLER, AND THE ATTORNEY GENERAL on the implementation  of  article
 two  of  this chapter by the commissioner and the supervising agency and
 the policy included therein. Such report shall include and not be limit-
 ed to rent and carrying charge levels, changes therein, operation of the
 state capital grant program and federal subsidy programs, tax  abatement
 levels,  total  capital  outlay,  amortization, mortgage interest rates,
 income levels served by the housing, surcharge billings and  collections
 and  use  of  surcharge  revenues, and vacancy rates.  SUCH REPORT SHALL
 ALSO INCLUDE INFORMATION REGARDING ANY  LIMITED-PROFIT  HOUSING  COMPANY
 THAT  HAS  VOLUNTARILY DISSOLVED IN THE PRECEDING CALENDAR YEAR, AND ANY
 LIMITED-PROFIT HOUSING COMPANY THAT HAS FILED  A  NOTICE  OF  INTENT  TO
 DISSOLVE  IN  THE  CURRENT  CALENDAR  YEAR WITH THE COMMISSIONER AND THE
 SUPERVISING AGENCY. THIS INFORMATION SHALL INCLUDE, BUT NOT  BE  LIMITED
 TO,  THE NAME AND ADDRESS OF THE DEVELOPMENT, THE NUMBER OF UNITS IN THE
 DEVELOPMENT, A RANGE OF AMOUNTS OF RENT OFFERED IN THE DEVELOPMENT,  THE
 NUMBER  OF  TENANTS  IN THE DEVELOPMENT, THE CURRENT VACANCY RATE IN THE
 DEVELOPMENT, INCOME LEVELS SERVED  BY  THE  DEVELOPMENT,  HOW  LONG  THE
 LIMITED-PROFIT  HOUSING COMPANY HAS PARTICIPATED IN THE PROGRAM, AND ANY
 SALES OR TRANSFERS THAT HAVE OCCURRED SINCE THE  LIMITED-PROFIT  HOUSING
 COMPANY  WAS  CREATED.  For  the  purpose  of preparing such report, the
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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