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NY A01128
Bill
Status
6/5/2013
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Amends the Private Housing Finance Law to add Section 35-A addressing rent for limited-profit housing company developments in cities with populations of one million or more following dissolution or reconstitution.
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Defines "affected developments" as housing units operated as rental developments under the Private Housing Finance Law that become subject to rent stabilization or emergency tenant protection laws after the dissolution date.
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Establishes that the initial legal regulated rent for affected dwelling units after dissolution shall be the last rent authorized before the dissolution date, including any rental surcharges.
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Prohibits adjustments to the legal regulated rent under Section 26-513 of the New York City Administrative Code or Section 9 of the Emergency Tenant Protection Act of 1974.
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Takes effect immediately upon enactment.
Legislative Description
Provides that in cities with a population of one million or more, the rent following the dissolution date of Mitchell-Lama developments shall be the last rent authorized for the affected dwelling.
Last Action
REFERRED TO RULES
6/17/2014