New York A 887: Relates to a state veterans' cemetery

Bill Text

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A00887 Summary:

BILL NOA00887 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORRosenthal (MS)

&nbsp

COSPNSRBenedetto, Cook, Dinowitz, Colton

&nbsp

MLTSPNSRGlick, Hevesi

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Add §35-b, Priv Hous Fin L

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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.

Go to top A00887 Actions:

BILL NOA00887 

&nbsp

01/08/2025referred to housing

01/07/2026referred to housing

Go to topA00887 Committee&nbspVotes:

Go to topA00887 Floor&nbspVotes:

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

Go to topA00887 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 887

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. ROSENTHAL, BENEDETTO, COOK, DINOWITZ, COLTON --
 Multi-Sponsored by -- M. of A. GLICK, HEVESI -- 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:

 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. Rent following dissolution. 1. As used in this section, the
 4 following terms shall have the following meanings:
 5 (a) "Affected development" shall mean housing accommodations that (i)
 6 prior to the dissolution date were operated as a rental development
 7 pursuant to this article; and (ii) following the dissolution date are
 8 subject to the rent stabilization law of nineteen hundred sixty-nine or
 9 the emergency tenant protection act of nineteen seventy-four.
 10 (b) "Affected dwelling unit" shall mean a housing unit in an affected
 11 development.
 12 (c) "Affected housing company" shall mean a limited-profit housing
 13 company with an affected development.
 14 (d) "Dissolution date" shall mean, with respect to any affected devel-
 15 opment, the date of dissolution or reconstitution of the affected hous-
 16 ing company with such affected development pursuant to section thirty-
 17 five of this article.
 18 2. Notwithstanding the provisions of any general, special or local
 19 law: (a) the initial legal regulated rent for any affected dwelling
 20 unit on and after the dissolution date shall be the last rent authorized
 21 for the affected dwelling unit before the dissolution date, including
 22 rental surcharges, if any, and (b) such legal regulated rent shall not

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02973-01-5

 A. 887 2

 1 at any time be subject to adjustment pursuant to subdivision a of
 2 section 26-513 of the administrative code of the city of New York, or
 3 subdivision a of section nine of the emergency tenant protection act of
 4 nineteen seventy-four.
 5 § 2. This act shall take effect immediately.

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