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NY S06605
Bill
Status
6/29/2021
Primary Sponsor
Robert Jackson
Click for details
AI Summary
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Extends the expiration date of chapter 84 of the laws of 1993 from June 30, 2021 to June 30, 2024 for provisions allowing restructuring of initial rents in housing accommodations rehabilitated with loans to housing development companies.
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Allows the NYC Department of Housing Preservation and Development to continue restructuring rents for housing development fund companies that purchase and rehabilitate occupied multiple dwellings through June 30, 2024.
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Preserves the rent stabilization status of dwelling units made subject to the rent stabilization law of 1969 under this provision, ensuring they remain rent stabilized even after the act expires.
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Makes the act retroactively effective to June 30, 2021 if the bill becomes law after that date.
Legislative Description
Extends the existing authority of the local housing agency in the city of New York, the department of housing preservation and development until June 30, 2024 to restructure rents for housing development fund companies that have purchased and are rehabilitating occupied multiple dwellings.
Last Action
SIGNED CHAP.177
6/29/2021