NY A02337

Amends subdivision 7 of section 32 of the Private Housing Finance Law to modify the remedies available to the commissioner and supervising agencies when limited profit housing companies violate requirements or regulations

Changes language from "may, in addition to such other remedies as may be available, commence" to "shall take such steps, as may be necessary and proper to effect such remedies as may be available"

Clarifies that available remedies may include commencing actions or proceedings in New York Supreme Court to stop and prevent violations, with the court authorized to appoint temporary or permanent receivers

Applies to both state-aided projects (overseen by commissioner) and municipally-aided projects (overseen by supervising agency)

Takes effect immediately upon enactment