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NY A05381
Bill
Status
2/13/2025
Primary Sponsor
Linda Rosenthal
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AI Summary
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Mandates the Department of Housing and Community Renewal and NYC Department of Housing Preservation and Development to conduct annual administrative audits of all limited-profit housing companies (Mitchell-Lama)
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Requires companies to file annual documentation including records of service contracts, invoices, bank statements, reimbursement claims, and petty cash transactions
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Compels disclosure of reserve funding levels, staff salaries, bonus pay, and monthly residential and commercial rent collections
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Requires reporting on residents receiving housing benefits such as Senior Citizen Rent Increase Exemption (SCRIE) and Section 8 assistance
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Mandates submission of utility bills and a list of board members with their addresses and any conflicts of interest
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Takes effect January 1 following enactment
Legislative Description
Requires annual audits of limited-profit housing companies to be made by the department of housing and community renewal, in conjunction with the New York city department of housing preservation and development.
Last Action
referred to housing
1/7/2026