NY S08431

Amends the Emergency Tenant Protection Act of 1974 to allow declaration of housing emergencies for rental units in buildings previously owned by limited-profit housing companies established under Article 2 of the Private Housing Finance Law (excluding mutual companies) that voluntarily dissolve under Section 35 of that law

Removes barriers that previously prevented emergency declarations for such properties based on ownership type or voluntary dissolution status

Exempts housing accommodations that become subject to the Emergency Tenant Protection Act under this new provision from the provisions of subdivision A of Section Nine of the act

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

Amendments expire when the Emergency Tenant Protection Act itself expires per Section 17 of Chapter 576 of the Laws of 1974