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NY A10559

Bill

Official Source

Status

Passed

7/1/2018

Primary Sponsor

Yuh-line Niou

Click for details

Origin

Assembly

2017-2018 General Assembly

AI Summary

  • Amends Chapter 449 of the laws of 1986 relating to establishing initial rents for owners of existing multiple dwellings receiving certain loans under the private housing finance law
  • Extends the expiration date of sections one, two, and four of the 1986 law from June 30, 2018 to June 30, 2021
  • Preserves the status of dwelling units made subject to rent stabilization law under these sections, requiring them to remain subject to rent stabilization
  • Takes effect immediately upon enactment, with retroactive application if enacted after June 30, 2018

Legislative Description

Extends expiration of authority granted to the city of New York to restructure the rents of units in buildings receiving municipally financed rehabilitation loans.

Last Action

signed chap.95

7/1/2018

Committee Referrals

Housing5/7/2018

Full Bill Text

No bill text available