Assembly Bill A8098

Signed By Governor
2021-2022 Legislative Session

Relates to rental assistance and legal regulated rents in affordable housing projects

download bill text pdf

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Archive: Last Bill Status Via S7235 - 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

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2021-A8098 (ACTIVE) - Details

See Senate Version of this Bill:
S7235
Law Section:
Private Housing Finance Law
Laws Affected:
Add §610, Priv Hous Fin L

2021-A8098 (ACTIVE) - Summary

Relates to rental assistance and legal regulated rents in affordable housing projects.

2021-A8098 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8098
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 11, 2021
                                ___________
 
 Introduced  by  M.  of  A.  CYMBROWITZ  -- read once and referred to the
   Committee on Housing
 
 AN ACT to amend the private housing finance law, in relation  to  rental
   assistance and legal regulated rents in affordable housing projects
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The private housing finance law is amended by adding a  new
 section 610 to read as follows:
   §  610.  RENTAL  ASSISTANCE AND LEGAL REGULATED RENTS. 1. (A) NOTWITH-
 STANDING THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVENTY-FOUR OR
 THE RENT STABILIZATION LAW OF NINETEEN  HUNDRED  SIXTY-NINE,  ANY  REGU-
 LATION  PROMULGATED  PURSUANT TO SUCH ACT OR LAW, OR ANY OTHER PROVISION
 OF LAW, WHERE A HOUSING ACCOMMODATION IS SUBJECT TO A REGULATORY  AGREE-
 MENT  WITH A STATE OR MUNICIPAL AGENCY OR PUBLIC BENEFIT CORPORATION, OR
 A POLITICAL SUBDIVISION OF THE STATE, AND WHERE  A  FEDERAL,  STATE,  OR
 LOCAL PROGRAM PROVIDES RENTAL ASSISTANCE FOR SUCH HOUSING ACCOMMODATION,
 SUCH  STATE  OR MUNICIPAL AGENCY OR PUBLIC BENEFIT CORPORATION, OR POLI-
 TICAL SUBDIVISION OF THE STATE, MAY ALLOW IN SUCH  REGULATORY  AGREEMENT
 THE OWNER OF SUCH HOUSING ACCOMMODATION TO CHARGE AND COLLECT A RENT FOR
 SUCH  HOUSING ACCOMMODATION THAT (I) DOES NOT EXCEED THE MAXIMUM PAYMENT
 STANDARD OR CONTRACT RENT THAT THE RENTAL ASSISTANCE PROGRAM MAY PROVIDE
 FOR SUCH HOUSING ACCOMMODATION, BUT (II) DOES EXCEED THE LEGAL REGULATED
 RENT FOR THE HOUSING ACCOMMODATION.
   (B) IF ANY SUCH RENTAL ASSISTANCE ENDS UPON THE VACANCY OF THE HOUSING
 ACCOMMODATION, THE OWNER OF SUCH HOUSING ACCOMMODATION SHALL  THEREAFTER
 CHARGE  AND  COLLECT A RENT FOR SUCH HOUSING ACCOMMODATION THAT DOES NOT
 EXCEED THE LESSER OF (I) THE PREVIOUSLY ESTABLISHED LEGAL REGULATED RENT
 FOR SUCH HOUSING ACCOMMODATION, AS ADJUSTED BY THE MOST RECENT  APPLICA-
 BLE GUIDELINES INCREASES APPROVED BY A RENT GUIDELINES BOARD ESTABLISHED
 PURSUANT TO THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVENTY-FOUR
 AND ANY OTHER INCREASES AUTHORIZED BY LAW, REGARDLESS OF WHEN THE PREVI-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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