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NY A02068
Bill
Status
Introduced
1/14/2021
Primary Sponsor
Jeffrey Dinowitz
Click for details
AI Summary
- Amends Section 804 of the Private Housing Finance Law regarding rents for properties receiving participation loans
- Removes language that allowed rent-controlled or rent-stabilized properties to bypass existing rent control regulations upon rehabilitation or conversion
- Requires adjusted rents for rehabilitated existing dwellings previously subject to emergency housing rent control law, local emergency housing rent control act, rent stabilization law of 1969, or related local laws to be established pursuant to those same provisions
- Maintains current requirements that units in properties with City of New York or NYC Housing Development Corporation participation be subject to the 1969 rent stabilization law, with current occupants offered two-year leases at initial agency-set rents
- Takes effect immediately upon enactment
Legislative Description
Relates to certain adjusted rents under the participation loan program; provides that rehabilitated rent control and rent stabilized units shall have adjusted rents determined in accordance with such programs.
Last Action
referred to housing
1/5/2022
Committee Referrals
Housing1/14/2021
Full Bill Text
No bill text available