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NY A01904
Bill
Status
1/11/2021
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Amends the Private Housing Finance Law to add Section 35-a governing rent in limited-profit housing developments after dissolution or reconstitution.
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Sets the initial legal regulated rent for affected dwelling units on and after the dissolution date as the last rent authorized before dissolution, including any rental surcharges.
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Prohibits the regulated rent from being adjusted under rent stabilization law provisions (Section 26-513 of the Administrative Code) or the Emergency Tenant Protection Act of 1974.
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Applies to housing accommodations in cities with populations of one million or more that were operated as rental developments under the limited-profit housing program before dissolution and become subject to rent stabilization or emergency tenant protection laws after dissolution.
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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 housing
1/5/2022