New York A 1574: Initiates a five-year moratorium on the dissolution of any urban rental Mitchell-Lama company and establishes a Mitchell-Lama housing program study

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
A01574 Summary:

BILL NOA01574 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORRosenthal

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §35-b, Priv Hous Fin L

&nbsp

Initiates a five-year moratorium on the dissolution of any urban rental Mitchell-Lama company; establishes a Mitchell-Lama housing program study.

Go to top A01574 Actions:

BILL NOA01574 

&nbsp

01/10/2025referred to housing

01/07/2026referred to housing

Go to topA01574 Committee&nbspVotes:

Go to topA01574 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA01574 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1574

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 10, 2025
 ___________

 Introduced by M. of A. ROSENTHAL -- read once and referred to the
 Committee on Housing

 AN ACT to amend the private housing finance law, in relation to initiat-
 ing a five-year moratorium on the dissolution of any urban rental
 Mitchell-Lama company, and in relation to establishing the implementa-
 tion of a Mitchell-Lama housing program study; and providing for the
 repeal of certain provisions upon expiration thereof

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. The private housing finance law is amended by adding a new
 2 section 35-b to read as follows:
 3 § 35-b. Moratorium on voluntary dissolution. Notwithstanding any other
 4 provision of law, any urban rental company created pursuant to this
 5 article and otherwise eligible to voluntarily dissolve pursuant to
 6 section thirty-five of this article shall be prohibited from such
 7 dissolution.
 8 § 2. 1. Mitchell-Lama housing program study. New York State Homes and
 9 Community Renewal, in consultation with the New York City Department of
 10 Housing Preservation, shall execute a study on the preservation,
 11 sustainability, reform, and growth of the Mitchell-Lama housing program,
 12 including, but not limited to:
 13 a. recommendations for the expansion of the Mitchell-Lama housing
 14 program to address the affordable housing needs of New York's growing
 15 population;
 16 b. taxation and financing models to encourage housing developers to
 17 participate in the Mitchell-Lama housing program;
 18 c. adjusting the amount of time a company must remain in the Mitc-
 19 hell-Lama housing program before it may voluntarily dissolve;
 20 d. an analysis of current family income criteria used to determine
 21 access to low- and middle-income housing;

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04664-01-5

 A. 1574 2

 1 e. a determination of geographic areas of the state to best locate
 2 potential Mitchell-Lama housing;
 3 f. policy initiative responsive to the present and future needs of the
 4 Mitchell-Lama housing program and of Mitchell-Lama developments owned by
 5 urban rental or mutual companies;
 6 g. the feasibility of methods to preserve and expand the inventory of
 7 Mitchell-Lama housing relative to and within New York's other low- and
 8 middle-income housing programs.
 9 2. Preliminary and final study report. New York State Homes and Commu-
 10 nity Renewal shall submit to the governor, the speaker and the minority
 11 leader of the assembly, and the temporary president and the minority
 12 leader of the senate a preliminary report with findings concerning the
 13 Mitchell-Lama housing program within two years of the effective date of
 14 this section. Four years after the effective date of this section, New
 15 York State Homes and Community Renewal shall submit to the governor, the
 16 speaker and minority leader of the assembly, and the temporary president
 17 and minority leader of the senate a final report with recommendations
 18 respecting the Mitchell-Lama housing program study.
 19 3. Assistance. To the maximum extent possible, New York State Homes
 20 and Community Renewal shall be entitled to request and receive, and
 21 shall utilize and be provided with such facilities, resources, and data
 22 from any state court, department, division, board, bureau, commission,
 23 agency, or political subdivision that they may reasonably request to
 24 properly execute their responsibilities pursuant to this act.
 25