S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    975
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 10, 2017
                                ___________
 
 Introduced  by M. of A. ROSENTHAL, JAFFEE, COOK, TITONE, PERRY -- Multi-
   Sponsored by -- M. of A. FARRELL, GLICK, GOTTFRIED, TITUS -- read once
   and referred to the Committee 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.
   § 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
 governments to retain and expand the existing  inventory  of  state  and
 locally  aided  low  and  middle  income  housing so as to preserve such
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD00027-02-7

 A. 975                              2
 
 inventory of affordable housing for the persons and families such  hous-
 ing is designed to serve.
   § 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.
   § 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.
   §  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.
   §  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.
   §  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.
   §  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.