Senate Bill S625

2017-2018 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Rules Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions
Votes

co-Sponsors

2017-S625 (ACTIVE) - Details

See Assembly Version of this Bill:
A4775
Current Committee:
Senate Rules
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §32-b, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2015-2016: S8150, A7973
2019-2020: S6200, A4898

2017-S625 (ACTIVE) - Summary

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

2017-S625 (ACTIVE) - Sponsor Memo

2017-S625 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    625
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                              January 4, 2017
                                ___________
 
 Introduced  by  Sen.  BOYLE  -- 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 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.