Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 29, 2010 |
signed chap.142 |
Jun 25, 2010 |
delivered to governor |
May 24, 2010 |
returned to senate passed assembly ordered to third reading cal.933 substituted for a10986 |
May 24, 2010 |
substituted by s6753 |
May 20, 2010 |
advanced to third reading cal.933 |
May 17, 2010 |
reported |
May 11, 2010 |
reported referred to ways and means |
May 05, 2010 |
referred to housing |
Assembly Bill A10986
Signed By Governor2009-2010 Legislative Session
Sponsored By
LOPEZ V
Archive: Last Bill Status Via S6753 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2009-A10986 (ACTIVE) - Details
- See Senate Version of this Bill:
- S6753
- Law Section:
- Private Housing Finance Law
- Laws Affected:
- Amd §5, Chap 449 of 1986
2009-A10986 (ACTIVE) - Sponsor Memo
BILL NUMBER:A10986 TITLE OF BILL: An act to amend chapter 449 of the laws of 1986 amending the private housing finance law relating to establishing initial rents in respect of certain loans to owners of existing multiple dwellings, in relation to the effective date thereof SUMMARY OF PROVISIONS: This bill extends the existing authority of the local housing agency in the city of New York to restructure rents in residential buildings that have received low-interest, municipally-fi- nanced rehabilitation loans under Article 8 of the Private Housing Finance Law ("PHFL"). Currently, the ability to restructure rents expires on June 30, 2010. This extender would be effective for loans closed on or before June 30, 2014. JUSTIFICATION: Chapter 133 of the Laws of 2006 extended the ability of the local housing agency in the City of New York, the Department of Housing Preservation and Development ("HPD"), to restructure rents in dwelling units rehabilitated after June 30, 2002. This authority expires on June 30, 2010. This legislation extends this authority to June 30, 2014, thereby allowing HPD to contin- ue effectively utilizing Article 8 of the PHFL as an essential tool for the rehabilitation of affordable housing in New York City. The extension of this rent restructuring authority is crucial in allow- ing for the payment of a building's monthly operating costs and debt service and for multiple dwellings receiving Article 8 rehabilitation loans to be preserved as affordable housing
2009-A10986 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 10986 I N A S S E M B L Y May 5, 2010 ___________ Introduced by M. of A. V. LOPEZ -- read once and referred to the Commit- tee on Housing AN ACT to amend chapter 449 of the laws of 1986 amending the private housing finance law relating to establishing initial rents in respect of certain loans to owners of existing multiple dwellings, in relation to the effective date thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 5 of chapter 449 of the laws of 1986 amending the private housing finance law relating to establishing initial rents in respect of certain loans to owners of existing multiple dwellings, as amended by chapter 133 of the laws of 2006, is amended to read as follows: S 5. This act shall take effect immediately; provided that the provisions of sections one, two and four of this act shall remain in full force and effect until and including June 30, [2010] 2014, provided further that dwelling units made subject to the rent stabilization law of nineteen hundred sixty-nine pursuant to such sections of this act shall continue to remain subject to such law. S 2. This act shall take effect immediately; provided, however, that if this act shall have become a law after June 30, 2010, it shall be deemed to have been in full force and effect on and after June 30, 2010. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15732-01-0
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