Assembly Bill A3563

2021-2022 Legislative Session

Initiates a five-year moratorium on the dissolution of any urban rental Mitchell-Lama company and establishes a Mitchell-Lama housing program study

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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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2021-A3563 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Add §35-a, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2013-2014: A9114
2015-2016: A3682
2017-2018: A5550
2019-2020: A5130
2023-2024: A4948

2021-A3563 (ACTIVE) - Summary

Initiates a four-year moratorium on the dissolution of any urban rental Mitchell-Lama company and establishes a Mitchell-Lama housing program study.

2021-A3563 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3563
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 27, 2021
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
   Committee on Housing
 
 AN ACT to amend the private housing finance law, in relation to initiat-
   ing a five-year moratorium on the  dissolution  of  any  urban  rental
   Mitchell-Lama company, and in relation to establishing the implementa-
   tion  of  a Mitchell-Lama housing program study; and providing for the
   repeal of certain provisions upon expiration thereof
 
   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. MORATORIUM ON VOLUNTARY DISSOLUTION. NOTWITHSTANDING ANY OTHER
 PROVISION OF LAW, ANY URBAN RENTAL  COMPANY  CREATED  PURSUANT  TO  THIS
 ARTICLE  AND  OTHERWISE  ELIGIBLE  TO  VOLUNTARILY  DISSOLVE PURSUANT TO
 SECTION THIRTY-FIVE OF  THIS  ARTICLE  SHALL  BE  PROHIBITED  FROM  SUCH
 DISSOLUTION.
   §  2. 1. Mitchell-Lama housing program study. New York State Homes and
 Community Renewal, in consultation with the New York City Department  of
 Housing  Preservation,  shall  execute  a  study  on  the  preservation,
 sustainability, reform, and growth of the Mitchell-Lama housing program,
 including, but not limited to:
   a. recommendations for the  expansion  of  the  Mitchell-Lama  housing
 program  to  address  the affordable housing needs of New York's growing
 population;
   b. taxation and financing models to encourage  housing  developers  to
 participate in the Mitchell-Lama housing program;
   c.  adjusting  the  amount  of time a company must remain in the Mitc-
 hell-Lama housing program before it may voluntarily dissolve;
   d. an analysis of current family income  criteria  used  to  determine
 access to low- and middle-income housing;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD07751-01-1
              

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