Senate Bill S5119

                                
 
BILL NUMBER: S5119

SPONSOR: KAVANAGH
 
TITLE OF BILL:  An act to amend the emergency tenant protection act of
nineteen seventy-four, in relation to the declaration of housing emer-
gencies for rental housing accommodations located in buildings owned by
certain limited-profit housing companies

 
PURPOSE OF BILL:

The purpose of this bill is to protect tenants living in former Mitc-
hell-Lama buildings that have undergone a voluntary dissolution.

 
SUMMARY OF PROVISIONS:

Section 1 amends section five of section four of chapter 576 of the laws
of 1974, constituting the emergency tenant protection act of nineteen
severity-four, by adding a new subdivision c to include buildings that
were owned by a company established under Article 2 of the Private Hous-
ing Finance Law and are no longer owned by such company by reason of a
voluntary dissolution as a class of-housing protected by the rent
              

stabilization law, regardless of the date of initial occupancy.

 
JUSTIFICATION:

Many limited-profit housing companies are exercising their option to
pre-pay their State subsidized mortgages and "buy-out" of the Mitchell-
Lama moderate income housing program. In the event of a buy-out, exist-
ing tenants will face eviction if they cannot afford the new market-rate
rents in these buildings. This legislation seeks to ensure that these
tenants can continue to afford to live in their current apartments.

 
LEGISLATIVE HISTORY:

2018:A3541(Pretlow)- Ordered to third reading cal.275
2017:A3541(Pretlow)- Referred to Housing.
2016:A2917(Pretlow)- Advanced to third reading cal.648
2015:A2917(Pretlow)- Referred to Housing
2014:A4051(Pretlow)- Passed Assembly and died in Senate Housing,
Construction, and Cemmunity Development
2013: A4051 (Pretlow) - Advanced to third reading cal.74
2012: A2750A (Pretlow) - Passed Assembly and died in Senate Rules
2011: A2750A (Pretlow)- Referred to Housing
2010: S8431 (RULES) /A2498 (Pretlow) - Passed Assembly and ordered to
third reading cal.1435
2009: A2498 (Pretlow) - Passed Assembly and died in Sencte Housing,
Construction, and Community Development
2008: A4196 (Pret)ow) -- Passed Assembly and died in Senate Rules
2007: A4196 (Pretlow)Passed Assembly sod died in Sena.tc Rules
2006: 1t2522 (Pretlow) - Passed Assembly and died in Sonate Housing,
Construction, and Community Development
2005: A2522 (Pretlow) - Passed Assembly and died in Senate Eousing,
Construction, and Community Development
2004: A670A (Pretlow) - Passed Assembly and died in Senate Housing,
Construction, and Community Development
2003: A610A (Pretlow) - Referred to Housing
2002: A3064 (Pretlow) - Ordered to third reading rules cs1.1063
2001: A3064 (Pretlow) Referred to Ways and Hearts
2000: A8494 (Pretiow) - Ordered to third reading rules cal.1179
1999: A5494 (Pretlow) - Ordered to third cording rules cal.913

 
FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS:

None.

 
EFFECTIVE DATE:
This act shall take effect immediately and shall apply to housing compa-
nies that dissolve before, on or after such date; provided, however,
that the amendments to the emergency tenant protection act of nineteen
seventy-four made by this act shall not affect the expiration of such
act as provided in section 17 of chaptcr 576 of the laws of 1974, as
amended and shall be deemed to expire therewith.