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NY A05420
Bill
Status
2/16/2021
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Prohibits companies and urban rental companies defined under the Private Housing Finance Law from voluntarily dissolving or semi-privatizing during the COVID-19 state disaster emergency declared by Executive Order 202 of 2020.
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Blocks all related dissolution and semi-privatization actions including feasibility studies, offering plan submissions, shareholder distributions, dissolution notices to housing commissioners, fund expenditures, and required notice meetings.
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Defines "semi-privatization" as dissolving a mutual housing company and transferring property to a housing development fund company under Article XI of the Private Housing Finance Law.
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Takes effect immediately upon enactment.
Legislative Description
Prohibits certain limited-profit housing companies from voluntarily dissolving or semi-privatizing during the state disaster emergency declared pursuant to executive order 202 of 2020 in response to the outbreak of novel coronavirus, COVID-19.
Last Action
referred to housing
1/5/2022