|
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
|---|---|
| Feb 20, 2020 |
print number 9720a |
| Feb 20, 2020 |
amend and recommit to housing |
| Feb 06, 2020 |
referred to housing |
Assembly Bill A9720A
2019-2020 Legislative Session
Sponsored By
ROSENTHAL L
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
Actions
Bill Amendments
co-Sponsors
Stacey Pheffer Amato
2019-A9720 - Details
2019-A9720 - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
9720
I N A S S E M B L Y
February 6, 2020
___________
Introduced by M. of A. L. ROSENTHAL, PHEFFER AMATO -- read once and
referred to the Committee on Housing
AN ACT to amend the private housing finance law, in relation to direct-
ing the department of housing preservation and development of the city
of New York to promulgate rules and regulations regarding mutual hous-
ing companies considering dissolution and/or reconstitution
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The private housing finance law is amended by adding a new
section 35-a to read as follows:
§ 35-A. RULES AND REGULATIONS REGARDING DISSOLUTION. THE DEPARTMENT OF
HOUSING PRESERVATION AND DEVELOPMENT OF THE CITY OF NEW YORK SHALL
PROMULGATE RULES AND REGULATIONS REGARDING MUTUAL HOUSING COMPANIES
CONSIDERING DISSOLUTION AND/OR RECONSTITUTION PURSUANT TO SECTION THIR-
TY-FIVE OF THIS ARTICLE. SUCH RULES AND REGULATIONS SHALL AT A MINIMUM
INCLUDE:
1. A REQUIREMENT THAT ANY VOTE FOR AUTHORIZATION OF A FEASIBILITY
STUDY, AN OFFERING PLAN, OR FOR A BLACK BOOK SHALL REQUIRE THE APPROVAL
OF EIGHTY PERCENT OF THE DWELLING UNITS IN THE MUTUAL HOUSING COMPANY.
2. A REQUIREMENT THAT NO FUNDS FROM THE OPERATING BUDGET OF THE MUTUAL
HOUSING COMPANY SHALL BE USED FOR A FEASIBILITY STUDY.
3. NO VOTE FOR THE PRIVATIZATION OF A MUTUAL HOUSING COMPANY SHALL
OCCUR WITHIN FIVE YEARS FOLLOWING A VOTE FOR THE PRIVATIZATION OF SUCH
MUTUAL HOUSING COMPANY THAT FAILED.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14536-01-9
co-Sponsors
Stacey Pheffer Amato
2019-A9720A (ACTIVE) - Details
2019-A9720A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
9720--A
I N A S S E M B L Y
February 6, 2020
___________
Introduced by M. of A. L. ROSENTHAL, PHEFFER AMATO -- read once and
referred to the Committee on Housing -- committee discharged, bill
amended, ordered reprinted as amended and recommitted to said commit-
tee
AN ACT to amend the private housing finance law, in relation to direct-
ing the department of housing preservation and development of the city
of New York to promulgate rules and regulations regarding mutual hous-
ing companies considering dissolution and/or reconstitution
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The private housing finance law is amended by adding a new
section 35-a to read as follows:
§ 35-A. RULES AND REGULATIONS REGARDING DISSOLUTION. THE COMMISSIONER
OR SUPERVISING AGENCY SHALL PROMULGATE RULES AND REGULATIONS REGARDING
MUTUAL HOUSING COMPANIES CONSIDERING DISSOLUTION AND/OR RECONSTITUTION
PURSUANT TO SECTION THIRTY-FIVE OF THIS ARTICLE. SUCH RULES AND REGU-
LATIONS SHALL AT A MINIMUM INCLUDE:
1. A REQUIREMENT THAT ANY VOTE FOR DISSOLUTION OF THE COMPANY, OR FOR
AUTHORIZATION OF A FEASIBILITY STUDY, A PRELIMINARY OFFERING PLAN WHICH
MAY BE REFERRED TO AS A RED HERRING, A FINAL OFFERING PLAN WHICH MAY BE
REFERRED TO AS A BLACK BOOK, A PROXY STATEMENT, OR TO SEND A NOTICE OF
INTENT TO DISSOLVE TO THE COMMISSIONER OR SUPERVISING AGENCY SHALL
REQUIRE THE APPROVAL OF EIGHTY PERCENT OF ALL DWELLING UNITS, BOTH OCCU-
PIED AND UNOCCUPIED, OWNED BY THE MUTUAL HOUSING COMPANY.
2. A REQUIREMENT THAT NO FUNDS FROM THE OPERATING BUDGET OF THE MUTUAL
HOUSING COMPANY SHALL BE USED FOR THE PREPARATION OR DISTRIBUTION OF A
FEASIBILITY STUDY, A PRELIMINARY OFFERING PLAN OR RED HERRING, A FINAL
OFFERING PLAN OR BLACK BOOK, A PROXY STATEMENT, OR A NOTICE OF INTENT TO
DISSOLVE; OR TO PAY FOR ANY SERVICES RELATED TO EVALUATION OF, PREPARA-
TION FOR, OR EXECUTION OF DISSOLUTION AND/OR RECONSTITUTION PURSUANT TO
SECTION THIRTY-FIVE OF THIS ARTICLE, INCLUDING BUT NOT LIMITED TO LEGAL
SERVICES.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14536-03-0
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