S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  9114

                          I N  A S S E M B L Y

                             March 17, 2014
                               ___________

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

AN ACT to amend the private housing finance law, in relation to initiat-
  ing  a  four-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:

  Section 1. The private housing finance law is amended by adding a  new
section 35-a to read as follows:
  S 35-A. MORATORIUM ON VOLUNTARY DISSOLUTION. NOTWITHSTANDING ANY OTHER
PROVISION  OF  LAW,  ANY  URBAN  RENTAL COMPANY CREATED PURSUANT TO THIS
ARTICLE AND OTHERWISE  ELIGIBLE  TO  VOLUNTARILY  DISSOLVE  PURSUANT  TO
SECTION  THIRTY-FIVE  OF  THIS  ARTICLE  SHALL  BE  PROHIBITED FROM SUCH
DISSOLUTION.
  S 2. 1. Mitchell-Lama housing program study. New York State Homes  and
Community  Renewal, in consultation with the New York City Department of
Housing  Preservation,  shall  execute  a  study  on  the  preservation,
sustainability, reform, and growth of the Mitchell-Lama housing program,
including, but not limited to:
  a.  recommendations  for  the  expansion  of the Mitchell-Lama housing
program to address the affordable housing needs of  New  York's  growing
population;
  b.  taxation  and  financing models to encourage housing developers to
participate in the Mitchell-Lama housing program;
  c. adjusting the amount of time a company must  remain  in  the  Mitc-
hell-Lama housing program before it may voluntarily dissolve;
  d.  an  analysis  of  current family income criteria used to determine
access to low- and middle-income housing;
  e. a determination of geographic areas of the  state  to  best  locate
potential Mitchell-Lama housing;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14406-02-4

              

A. 9114                             2

  f. policy initiative responsive to the present and future needs of the
Mitchell-Lama housing program and of Mitchell-Lama developments owned by
urban rental or mutual companies;
  g.  the feasibility of methods to preserve and expand the inventory of
Mitchell-Lama housing relative to and within New York's other  low-  and
middle-income housing programs.
  2. Preliminary and final study report. New York State Homes and Commu-
nity  Renewal shall submit to the governor, the speaker and the minority
leader of the assembly, and the temporary  president  and  the  minority
leader  of  the senate a preliminary report with findings concerning the
Mitchell-Lama housing program within two years of the effective date  of
this  section.  Four years after the effective date of this section, New
York State Homes and Community Renewal shall submit to the governor, the
speaker and minority leader of the assembly, and the temporary president
and minority leader of the senate a final  report  with  recommendations
respecting the Mitchell-Lama housing program study.
  3.  Assistance.  To  the maximum extent possible, New York State Homes
and Community Renewal shall be entitled  to  request  and  receive,  and
shall  utilize and be provided with such facilities, resources, and data
from any state court, department, division, board,  bureau,  commission,
agency,  or  political  subdivision  that they may reasonably request to
properly execute their responsibilities pursuant to this act.
  S 3. This act shall take effect immediately, provided,  however,  that
the  provisions  of  section  one of this act shall expire and be deemed
repealed four years after this act shall have become a law.