NY A02498

Adds new subdivision (c) to Section 5 of the Emergency Tenant Protection Act of 1974 to permit declaration of housing emergencies for rental accommodations in buildings owned by limited-profit housing companies established under Article 2 of the Private Housing Finance Law (excluding mutual companies)

Allows emergency declarations for such buildings despite existing exceptions in the law when the limited-profit housing company undergoes voluntary dissolution under Section 35 of the Private Housing Finance Law

Exempts housing accommodations that become subject to the Emergency Tenant Protection Act under this provision from the provisions of Section 9, subdivision (a) of the act

Takes effect immediately and applies retroactively to housing companies that dissolved before, on, or after the effective date

Amendments expire with the Emergency Tenant Protection Act itself as provided in Section 17 of the original 1974 law