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.

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A1926-2011 Actions

• Jan 24, 2012: ordered to third reading rules cal.7
• Jan 24, 2012: rules report cal.7
• Jan 24, 2012: reported
• Jan 24, 2012: reported referred to rules
• Jan 4, 2012: referred to housing
• Feb 24, 2011: advanced to third reading cal.49
• Feb 15, 2011: reported
• Jan 12, 2011: referred to housing

A1926-2011 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                    1926

                         2011-2012 Regular Sessions

                            I N  ASSEMBLY

                              January 12, 2011
                                 ___________

  Introduced  by  M.  of A. ROSENTHAL, BING, V. LOPEZ, BENEDETTO, MILLMAN,
    JEFFRIES, ROBINSON, COOK, WRIGHT,  CAMARA,  MARKEY,  PHEFFER,  TITONE,
    MAISEL,  LANCMAN,  O'DONNELL,  DINOWITZ,  KAVANAGH,  P. RIVERA, TITUS,
    CYMBROWITZ, SPANO, COLTON, BROOK-KRASNY, GIBSON -- Multi-Sponsored  by
    --  M.  of  A. BARRON, BOYLAND, BRENNAN, CASTRO, FARRELL, GLICK, GOTT-
    FRIED, HEASTIE,  HEVESI,  KELLNER,  MAYERSOHN,  J. RIVERA,  N. RIVERA,
    TOWNS -- read once and referred to the Committee on Housing

  AN  ACT to amend the private housing finance law, in relation to limited
    profit housing companies in a city with a population of one million or
    more

    THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
  BLY, DO ENACT AS FOLLOWS:


    Section  1. The private housing finance law is amended by adding a new
  section 35-a to read as follows:

    S 35-A. RENT FOLLOWING DISSOLUTION. 1. AS USED IN  THIS  SECTION,  THE
  FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:

    (A)  "AFFECTED DEVELOPMENT" SHALL MEAN HOUSING ACCOMMODATIONS THAT (I)
  PRIOR TO THE DISSOLUTION DATE WERE  OPERATED  AS  A  RENTAL  DEVELOPMENT
  PURSUANT  TO  THIS  ARTICLE; AND (II) FOLLOWING THE DISSOLUTION DATE ARE
  SUBJECT TO THE RENT STABILIZATION LAW OF NINETEEN HUNDRED SIXTY-NINE  OR
  THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVENTY-FOUR.
    (B)  "AFFECTED DWELLING UNIT" SHALL MEAN A HOUSING UNIT IN AN AFFECTED
  DEVELOPMENT.
    (C) "AFFECTED HOUSING COMPANY" SHALL  MEAN  A  LIMITED-PROFIT  HOUSING
  COMPANY WITH AN AFFECTED DEVELOPMENT.
    (D) "DISSOLUTION DATE" SHALL MEAN, WITH RESPECT TO ANY AFFECTED DEVEL-
  OPMENT,  THE DATE OF DISSOLUTION OR RECONSTITUTION OF THE AFFECTED HOUS-
  ING  COMPANY  WITH  SUCH  AFFECTED  DEVELOPMENT  PURSUANT   TO   SECTION
  THIRTY-FIVE OF THIS ARTICLE.
    2.  NOTWITHSTANDING  THE  PROVISIONS  OF ANY GENERAL, SPECIAL OR LOCAL
  LAW:  (A) THE INITIAL LEGAL REGULATED RENT  FOR  ANY  AFFECTED  DWELLING

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD01769-01-1

 A. 1926                             2

  UNIT ON AND AFTER THE DISSOLUTION DATE SHALL BE THE LAST RENT AUTHORIZED
  FOR  THE  AFFECTED  DWELLING UNIT BEFORE THE DISSOLUTION DATE, INCLUDING
  RENTAL SURCHARGES, IF ANY, AND (B) SUCH LEGAL REGULATED RENT  SHALL  NOT
  AT  ANY  TIME  BE  SUBJECT  TO  ADJUSTMENT  PURSUANT TO SUBDIVISION A OF
  SECTION 26-513 OF THE ADMINISTRATIVE CODE OF THE CITY OF  NEW  YORK,  OR
  SUBDIVISION  A  OF  SECTION  9  OF  SECTION  4  OF  THE EMERGENCY TENANT
  PROTECTION ACT OF NINETEEN SEVENTY-FOUR.
    S 2. This act shall take effect immediately.