New York A 1506: Relates to rent registration statements filed by a limited liability company

Bill Text

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A01506 Summary:

BILL NOA01506 

&nbsp

SAME ASSAME AS S00119

&nbsp

SPONSORRosenthal

&nbsp

COSPNSRBurdick, Epstein, Seawright, Lee, Reyes, Levenberg

&nbsp

MLTSPNSR

&nbsp

Amd §12-a, Emerg Ten Prot Act of 1974; amd §26-517, NYC Ad Cd

&nbsp

Requires that any limited liability company who files a rent registration statement shall include a list of all members of such limited liability company and each member's ownership interest.

Go to top A01506 Actions:

BILL NOA01506 

&nbsp

01/10/2025referred to housing

02/25/2025reported referred to codes

03/04/2025reported 

03/06/2025advanced to third reading cal.48

01/07/2026ordered to third reading cal.57

Go to topA01506 Committee&nbspVotes:

Committee:HOUSING Chair:Rosenthal 
DATE:02/25/2025AYE/NAY:17/9 Action: Favorable refer to committee Codes RosenthalAyeNovakhovNay

CookExcusedFitzpatrickNay

KimAyeBrown K Nay

WalkerAyeBrown EANay

Bichotte HermelExcusedBrook-KrasnyNay

DavilaAyeChangNay

EpsteinAyeMaherNay

EichensteinNayNorberNay

MeeksAye

BurdickAye

RiveraAye

JacksonAye

KellesAye

TapiaAye

LucasAye

Chandler-WatermAye

LeeAye

LevenbergAye

DaisAye

TorresAye

Committee:CODES Chair:Dinowitz 
DATE:03/04/2025AYE/NAY:15/7 Action: Favorable DinowitzAyeMorinelloNay

CookAyeReillyNay

LavineNayMikulinNay

WeprinAyeTannousisNay

HevesiAyeAngelinoNay

SeawrightAyeMolitorNay

RosenthalAye

WalkerAye

VanelAye

CruzAye

EpsteinAye

BoresAye

ReyesAye

CunninghamAye

RomeroAye

AlvarezAye

Go to topA01506 Floor&nbspVotes:

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

Go to topA01506 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1506

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 10, 2025
 ___________

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

 AN ACT to amend the emergency tenant protection act of nineteen seven-
 ty-four and the administrative code of the city of New York, in
 relation to rent registration statements filed by a limited liability
 company

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

 1 Section 1. Section 12-a of section 4 of chapter 576 of the laws of
 2 1974, constituting the emergency tenant protection act of nineteen
 3 seventy-four, is amended by adding a new subdivision b-1 to read as
 4 follows:
 5 b-1. Notwithstanding any other law to the contrary, when the owner of
 6 a housing accommodation is a limited liability company and is register-
 7 ing such housing accommodation pursuant to this section, such limited
 8 liability company shall be required to include in its submission to the
 9 state division of housing and community renewal a list of all beneficial
 10 owners of such limited liability company and the proportion of each
 11 owner's interest in such limited liability company. The requirement set
 12 forth by this section shall be in addition to the data required pursuant
 13 to subdivision a of this section. For the purposes of this subdivision,
 14 "beneficial owner" shall mean an individual who, directly or indirectly,
 15 through any contract, arrangement, understanding, relationship or other-
 16 wise, owns any equity interest of an entity, and/or has a level of
 17 control over the funds or assets of the entity that, as a practical
 18 matter, enables the individual, directly or indirectly, to control,
 19 manage or direct the entity and the use of its funds and assets or any
 20 part thereof.
 21 § 2. Section 26-517 of the administrative code of the city of New York
 22 is amended by adding a new subdivision b-1 to read as follows:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00251-01-5

 A. 1506 2

 1 b-1. Notwithstanding any other law to the contrary, when the owner of
 2 a housing accommodation is a limited liability company and is register-
 3 ing such housing accommodation pursuant to this section, such limited
 4 liability company shall be required to include in its submission to the
 5 state division of housing and community renewal a list of all beneficial
 6 owners of the membership interests of such limited liability company and
 7 the proportion of each direct or indirect me