The New York State Senate

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10255
 
                           I N  A S S E M B L Y
 
                               April 8, 2020
                                ___________
 
 Introduced  by  M. of A. NIOU -- read once and referred to the Committee
   on Housing
 
 AN ACT in relation to establishing a "COVID-19 emergency small  landlord
   assistance fund"
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. (a) (i) Within amounts  appropriated  therefor,  consisting
 exclusively  of  any  federal  funds  made available for such purpose, a
 "COVID-19 emergency small landlord assistance fund" shall be established
 and administered by local housing authorities to provide  assistance  to
 owners  of  a  real property portfolio whose tenants have had their rent
 payments suspended pursuant to subdivision (a) of section 1 of a chapter
 of the laws of 2020 relating to suspending  rent  payments  for  certain
 residential tenants and small business commercial tenants and to suspend
 certain mortgage payments for ninety days in response to the outbreak of
 coronavirus, for the costs associated with the operation and maintenance
 of  such  properties.  Such owners shall be eligible for assistance from
 such fund if:
   (A) the real property portfolio is comprised of no more than 50  resi-
 dential units; and
   (B)  one-third  or  more  of  the property's residential or commercial
 tenants had rental payments suspended pursuant  to  subdivision  (a)  of
 section  1  of a chapter of the laws of 2020 relating to suspending rent
 payments for certain residential tenants and small  business  commercial
 tenants  and  to  suspend  certain  mortgage payments for ninety days in
 response to the outbreak of coronavirus; and
   (C) the property owner is able to demonstrate financial  hardship  due
 to the deprivation of such rental income.
   (ii) No owner of a real property portfolio shall receive more than the
 total  amount of rental payments owed to such owner which were suspended
 pursuant to subdivision (a) of section 1 of a chapter  of  the  laws  of
 2020  relating  to  suspending  rent  payments  for  certain residential
 tenants and small business commercial tenants  and  to  suspend  certain
 mortgage payments for ninety days in response to the outbreak of corona-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD16084-03-0

 A. 10255                            2
 
 virus  from  the  assistance fund.   Any assistance provided to an owner
 from the fund shall be reduced by any mortgage relief received  by  such
 owner  pursuant to subdivision (b) of section 1 of a chapter of the laws
 of  2020  relating  to  suspending rent payments for certain residential
 tenants and small business commercial tenants  and  to  suspend  certain
 mortgage payments for ninety days in response to the outbreak of corona-
 virus.
   (iii)  Application for the local assistance fund shall be made in such
 manner as prescribed by the local housing authority  and  shall  contain
 such information as the local housing authority may reasonably require.
   (b) For the purposes of this act, "real property portfolio" shall mean
 all of the buildings under the ownership of a person or entity.
   §  2.  This  act  shall  take  effect on the same date and in the same
 manner as a chapter of the laws of 2020,  relating  to  suspending  rent
 payments  for  certain residential tenants and small business commercial
 tenants and to suspend certain mortgage  payments  for  ninety  days  in
 response  to  the  outbreak  of  coronavirus, as proposed in legislative
 bills numbers S. 8125-A and A. 10224-A, takes effect.