Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 21, 2021 |
approval memo.72 signed chap.684 |
Dec 09, 2021 |
delivered to governor |
Jun 10, 2021 |
returned to assembly passed senate 3rd reading cal.1731 substituted for s7079 |
Jun 07, 2021 |
referred to rules delivered to senate passed assembly ordered to third reading rules cal.490 rules report cal.490 reported |
Jun 03, 2021 |
reported referred to rules |
May 24, 2021 |
reported referred to ways and means |
May 19, 2021 |
referred to housing |
Assembly Bill A7637
Signed By Governor2021-2022 Legislative Session
Sponsored By
CYMBROWITZ
Archive: Last Bill Status - Signed by Governor
- 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
Votes
co-Sponsors
Chris Burdick
2021-A7637 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7079
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §32-a, Priv Hous Fin L
2021-A7637 (ACTIVE) - Summary
Authorizes additional supervision and regulation of limited-profit housing companies relating to requiring members of a board of directors of a limited-profit housing company to complete training regarding the financial oversight, accountability and fiduciary responsibilities of a board member and the powers, functions and duties of a board of directors of a limited-profit housing company.
2021-A7637 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7637 2021-2022 Regular Sessions I N A S S E M B L Y May 19, 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 author- izing additional supervision and regulation of limited-profit housing companies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 32-a of the private housing finance law, as added by chapter 449 of the laws of 1975, subdivision 6 as added by chapter 744 of the laws of 1977, subdivision 7 as added by chapter 409 of the laws of 1982, subdivision 8 as added by chapter 594 of the laws of 2019 and the closing paragraph as added by chapter 74 of the laws of 1988, is amended to read as follows: § 32-a. Additional supervision and regulation. The commissioner or the supervising agency, as the case may be, shall: 1. Promulgate regulations providing for recognition of duly consti- tuted tenants' associations and cooperators' advisory councils by the commissioner or supervising agency, as the case may be, and providing that a housing company shall meet on a regular basis with represen- tatives of such an association or council at the specific project involved to discuss matters relating to the project. A duly constituted cooperators' advisory council shall only be such a council in a mutual company project prior to the election of a board of directors by the tenant-cooperators. 2. Require every company to file with him, HER or it an annual operat- ing budget for each individual project in the manner prescribed by the commissioner or supervising agency. 3. Require every company to file with him, HER or it semi-annual or quarterly financial statements and an annual financial statement. Each annual financial statement shall be accompanied by a certificate of the company's independent certified public accountant. Such financial state- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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