Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 09, 2018 |
referred to cities |
Senate Bill S8530
2017-2018 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Cities 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
Actions
2017-S8530 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10605
- Current Committee:
- Senate Cities
- Law Section:
- Housing
- Laws Affected:
- Amd §6, Chap 777 of 1986
2017-S8530 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8530 SPONSOR: LITTLE TITLE OF BILL: An act to amend chapter 777 of the laws of 1986 amend- ing the private housing finance law, relating to small loans to owners of multiple dwellings to remove substandard or insanitary conditions, in relation to the effectiveness thereof PURPOSE: Chapter 76 of the Laws of 2014 extended the ability of the local housing agency in the City of New York, the Department of Housing Preservation and Development ("HPD"), to establish initial rents in multiple dwell- ings that are receiving Article 8-A rehabilitation loans. Such rent restructuring authority currently expires on June 30, 2018. This legis- lation extends this authority to June 30, 2021. It is essential that the City of New York continue to have the ability to restructure rents for its programs that provide low-interest loans for affordable housing rehabilitation. Rent restructuring is an impor- tant tool in ensuring that monthly operating costs and debt service payments will continue to be paid, thereby preventing the abandonment of
2017-S8530 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8530 I N S E N A T E May 9, 2018 ___________ Introduced by Sen. LITTLE -- read twice and ordered printed, and when printed to be committed to the Committee on Cities AN ACT to amend chapter 777 of the laws of 1986 amending the private housing finance law, relating to small loans to owners of multiple dwellings to remove substandard or insanitary conditions, in relation to the effectiveness thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 6 of chapter 777 of the laws of 1986 amending the private housing finance law relating to small loans to owners of multi- ple dwellings to remove substandard or insanitary conditions, as amended by chapter 76 of the laws of 2014, is amended to read as follows: § 6. This act shall take effect immediately; provided that the provisions of sections three, four and five of this act shall remain in full force and effect until and including June 30, [2018] 2021. § 2. This act shall take effect immediately; provided, however, that if this act shall have become law after June 30, 2018, this act shall take effect immediately and shall be retroactive to and deemed to have been in full force and effect on and after June 30, 2018. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15818-01-8
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