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Senate Bill S2338

2017-2018 Legislative Session

Initiates a four year moratorium on privatization voting by Mitchell-Lama building shareholders

download bill text pdf

Sponsored By

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

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2017-S2338 (ACTIVE) - Details

See Assembly Version of this Bill:
A3199
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §35, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11156
2011-2012: S3258, A1467
2013-2014: S1830, A700
2015-2016: S3590, A560
2019-2020: A1105
2021-2022: A542
2023-2024: A389
2025-2026: A802

2017-S2338 (ACTIVE) - Summary

Initiates a four year moratorium on privatization voting by Mitchell-Lama building shareholders between failed dissolution votes.

2017-S2338 (ACTIVE) - Sponsor Memo

2017-S2338 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2338
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 13, 2017
                                ___________
 
 Introduced by Sen. ALCANTARA -- read twice and ordered printed, and when
   printed  to be committed to the Committee on Housing, Construction and
   Community Development
 
 AN ACT to amend the private housing finance law, in relation to initiat-
   ing a four-year moratorium on privatization  voting  by  Mitchell-Lama
   building shareholders

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 35 of the private housing finance law is amended by
 adding a new subdivision 5 to read as follows:
   5. (A) IN THE EVENT OF A FAILED VOLUNTARY DISSOLUTION VOTE BY A COMPA-
 NY SUBJECT TO THIS ARTICLE, THERE SHALL BE  A  FOUR-YEAR  MORATORIUM  ON
 VOLUNTARY DISSOLUTION VOTING BY SUCH COMPANY.
   (B) ANY CITY, TOWN OR VILLAGE MAY ENACT LOCAL LAWS, ORDINANCES, RESOL-
 UTIONS  OR  REGULATIONS NOT LESS RESTRICTIVE THAN THOSE PROVIDED IN THIS
 SUBDIVISION.
   (C) THE PROVISIONS OF THIS SUBDIVISION SHALL NOT DIMINISH THE REQUIRE-
 MENTS OF ANY OTHER LAW WHICH MAY APPLY TO SUCH ACTION.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05427-01-7

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