senate Bill S5629

2021-2022 Legislative Session

Establishes a rental assistance loan-to-grant program to assist landlords due to the COVID-19 pandemic

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Sponsored By

Current Bill Status - In Senate Committee Housing, Construction And Community Development Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 12, 2021 referred to housing, construction and community development

Co-Sponsors

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S5629 (ACTIVE) - Details

See Assembly Version of this Bill:
A6595
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Real Property

S5629 (ACTIVE) - Summary

Establishes a rental assistance loan-to-grant program to assist landlords of small rental properties who have lost rental income due to the inability of the landlords' tenants to pay rent during the COVID-19 state disaster emergency.

S5629 (ACTIVE) - Sponsor Memo

S5629 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5629
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 12, 2021
                                ___________
 
 Introduced  by Sens. TEDISCO, GALLIVAN, HELMING, JORDAN, MARTUCCI, OBER-
   ACKER, ORTT, PALUMBO -- read  twice  and  ordered  printed,  and  when
   printed  to be committed to the Committee on Housing, Construction and
   Community Development
 
 AN ACT to establish a rental assistance loan-to-grant program to  assist
   landlords  of  small rental properties who have lost rental income due
   to the inability of the landlords' tenants  to  pay  rent  during  the
   COVID-19  state  disaster  emergency;  and providing for the repeal of
   such provisions upon the expiration thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. 1. (a) There shall be established in the New York Division
 of Housing and  Community  Renewal  a  rental  assistance  loan-to-grant
 program  ("the  program") to assist landlords of small rental properties
 who have lost rental income due  to  the  inability  of  the  landlord's
 tenants  to  pay  rent  during the period of the COVID-19 state disaster
 emergency declared pursuant to executive order 202 of 2020. The  program
 shall  be  administered  by the Commissioner of the New York Division of
 Housing and Community Renewal.
   (b) The program shall provide loans to landlords of residential  prop-
 erties  containing  up  to  six rental units for the purpose of covering
 rent arrearages owed by tenants of the building who were unable  to  pay
 rent during the COVID-19 state disaster emergency due to unemployment or
 medical  emergency  and  accrued  during  the  state  disaster emergency
 declared pursuant to executive order 202 of 2020.  If  a  tenant  subse-
 quently  pays  the landlord the arrearages in rent, in whole or in part,
 the landlord shall pay such funds to the  program  as  full  or  partial
 repayment of the loan. If a tenant does not pay the landlord the arrear-
 ages  in  rent,  that  portion  of  the  loan  from the program shall be
 converted by the Division of Housing and Community Renewal into a  grant
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10350-01-1

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