Assembly Bill A10255

2019-2020 Legislative Session

Establishes a COVID-19 emergency small landlord assistance fund

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Archive: Last Bill Status - In Assembly 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

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2019-A10255 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Real Property

2019-A10255 (ACTIVE) - Summary

Establishes a COVID-19 emergency small landlord assistance fund; provides that local housing authorities shall provide assistance to owners of a real property portfolio whose tenants have had their rent payments suspended for the costs associated with the operation and maintenance of such properties.

2019-A10255 (ACTIVE) - Bill Text download pdf 

                            
 
                     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

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