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NY A01414
Bill
Status
1/9/2025
Primary Sponsor
Jeffrey Dinowitz
Click for details
AI Summary
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Amends the private housing finance law to require that rehabilitated multiple dwellings previously subject to rent control or rent stabilization must have their adjusted rents established under those existing rent regulation programs
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Removes outdated references to emergency housing rent control law provisions that previously governed initial rent setting for participation loan program properties
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Maintains existing requirement that the housing agency establishes initial rents for newly constructed or converted multiple dwellings aided by participation loans
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Preserves rent stabilization protections for dwelling units in buildings where New York City or the NYC Housing Development Corporation has participated in loans under the program
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Takes effect immediately upon passage
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
1/7/2026