New York A 1787: Requires the establishment of a one hundred percent clean energy system by two thousand thirty-two

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 
A01787 Summary:

BILL NOA01787 

&nbsp

SAME ASSAME AS S02002

&nbsp

SPONSORRosenthal

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add §36-b, Priv Hous Fin L

&nbsp

Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.

Go to top A01787 Actions:

BILL NOA01787 

&nbsp

01/14/2025referred to housing

01/07/2026referred to housing

Go to topA01787 Committee&nbspVotes:

Go to topA01787 Floor&nbspVotes:

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

Go to topA01787 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1787

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 14, 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 the sale
 of limited-profit housing projects

 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 36-b to read as follows:
 3 § 36-b. Sale or other conveyance of project. Notwithstanding any
 4 inconsistent provision of law, upon the sale or other conveyance of a
 5 project by a company to any entity other than a company, the following
 6 requirements shall apply.
 7 1. All reserve and surplus funds transferred by the company to the new
 8 owner must be held by such new owner in escrow accounts and may be used
 9 by such new owner solely for the purpose of making major capital
 10 improvements to the project.
 11 2. No rental or other charge may be increased by the new owner to
 12 defray the cost of any major capital improvement unless and until all of
 13 such reserve and surplus funds have been expended to defray the cost of
 14 major capital improvements.
 15 § 2. This act shall take effect on the first of January next succeed-
 16 ing the date on which it shall have become a law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04618-01-5

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps