S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4948
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 27, 2023
                                ___________
 
 Introduced  by  M.  of  A. L. ROSENTHAL -- 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-b to read as follows:
   § 35-B. 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.
                                                            LBD08840-01-3
 A. 4948                             2
              

 
   e.  a  determination  of  geographic areas of the state to best locate
 potential Mitchell-Lama housing;
   f. policy initiative responsive to the present and future needs of the
 Mitchell-Lama housing program and of Mitchell-Lama developments owned by
 urban rental or mutual companies;
   g.  the feasibility of methods to preserve and expand the inventory of
 Mitchell-Lama housing relative to and within New York's other  low-  and
 middle-income housing programs.
   2. Preliminary and final study report. New York State Homes and Commu-
 nity  Renewal shall submit to the governor, the speaker and the minority
 leader of the assembly, and the temporary  president  and  the  minority
 leader  of  the senate a preliminary report with findings concerning the
 Mitchell-Lama housing program within two years of the effective date  of
 this  section.  Four years after the effective date of this section, New
 York State Homes and Community Renewal shall submit to the governor, the
 speaker and minority leader of the assembly, and the temporary president
 and minority leader of the senate a final  report  with  recommendations
 respecting the Mitchell-Lama housing program study.
   3.  Assistance.  To  the maximum extent possible, New York State Homes
 and Community Renewal shall be entitled  to  request  and  receive,  and
 shall  utilize and be provided with such facilities, resources, and data
 from any state court, department, division, board,  bureau,  commission,
 agency,  or  political  subdivision  that they may reasonably request to
 properly execute their responsibilities pursuant to this act.
   § 3. This act shall take effect immediately, provided,  however,  that
 the  provisions  of  section  one of this act shall expire and be deemed
 repealed five years after this act shall have become a law.