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NY A00467
Bill
Status
1/9/2023
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Amends the Private Housing Finance Law to establish rent provisions for limited-profit housing companies in cities with populations of one million or more upon dissolution or reconstitution.
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Establishes that the initial legal regulated rent for affected dwelling units after the dissolution date shall be the last rent authorized before dissolution, including any rental surcharges.
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Prohibits the regulated rent from being adjusted pursuant to rent stabilization law adjustments or Emergency Tenant Protection Act adjustment provisions following the dissolution date.
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Applies to housing accommodations that were previously operated as rental developments under the article and become subject to rent stabilization law or the Emergency Tenant Protection Act 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
1/3/2024