S T A T E   O F   N E W   Y O R K
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                                  3729

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 27, 2015
                               ___________

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 notifi-
  cation of tenants of pending "buy out" from mortgages by Mitchell-Lama
  building owners

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 35 of the private housing finance law is amended by
adding three new subdivisions 5, 6 and 7 to read as follows:
  5.  (A)  ANY  COMPANY  WHICH INTENDS TO DISSOLVE OR OTHERWISE TAKE ANY
ACTION WHICH WOULD CAUSE THE COMPANY TO NO LONGER BE SUBJECT  TO  SUPER-
VISION  OF  THE  COMMISSIONER OR THE SUPERVISING AGENCY SHALL PROVIDE TO
EVERY PERSON THAT CURRENTLY HAS A LEASE FOR HOUSING IN  THE  PROJECT  OF
SUCH  COMPANY,  NOTICE  NOT  LESS THAN TWELVE MONTHS PRIOR TO THE ANTIC-
IPATED DATE OF SUCH ACTION CONTAINING THE FOLLOWING INFORMATION IN PLAIN
LANGUAGE:
  (I) THE NATURE OF THE ACTION WHICH THE COMPANY INTENDS TO TAKE;
  (II) THE DATE ON WHICH SUCH ACTION IS ANTICIPATED TO TAKE PLACE;
  (III) THE PROVISIONS OF LAW  OR  REGULATION  PURSUANT  TO  WHICH  SUCH
ACTION IS AUTHORIZED; AND
  (IV)  A  SUMMARY OF THE POTENTIAL CONSEQUENCES OF SUCH ACTION, INCLUD-
ING, BUT NOT LIMITED TO, ITS EFFECT ON THE FOLLOWING:
  (1) OWNERSHIP OF THE PROJECT;
  (2) SUPERVISION OF THE PROJECT;
  (3) EXPENSES OF THE PROJECT, WHICH SHALL INCLUDE BUT NOT BE LIMITED TO
TAXES AND OTHER MUNICIPAL CHARGES;
  (4) RENTS; AND
  (5) ANY GOVERNMENTAL APPROVALS OR AUTHORIZATION, IF ANY, NECESSARY FOR
SUCH ACTION TO OCCUR, INCLUDING INFORMATION SETTING  FORTH  THE  GOVERN-
MENTAL  BODY THAT WOULD NEED TO ISSUE SUCH APPROVAL OR AUTHORIZATION AND
THE DATES BY WHICH SUCH APPROVAL OR AUTHORIZATION WOULD BE REQUIRED.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD05288-01-5
              

A. 3729                             2

  (B) ANY CITY, TOWN OR VILLAGE MAY ENACT LOCAL LAWS, ORDINANCES, RESOL-
UTIONS OR REGULATIONS PROVIDED THAT SUCH ENACTMENTS ARE  MORE  STRINGENT
OR RESTRICTIVE THAN THOSE PROVIDED IN THIS SUBDIVISION.
  (C) THE PROVISIONS OF THIS SUBDIVISION SHALL NOT DIMINISH THE REQUIRE-
MENTS OF ANY OTHER LAW WHICH MAY APPLY TO SUCH ACTION.
  6.  WITHIN THREE MONTHS OF RECEIPT OF A NOTICE OF INTENT TO BUY OUT AS
PROVIDED IN SUBDIVISION FIVE OF THIS SECTION, THE COMMISSIONER OR SUPER-
VISING AGENCY SHALL PREPARE AND MAKE AVAILABLE TO  ALL  TENANTS  OF  THE
PROJECT  AND  TO THEIR DESIGNATED REPRESENTATIVE A REPORT WHICH PROVIDES
THE FOLLOWING INFORMATION RELATING TO THE TENANTS OF  THE  PROJECT.  THE
INFORMATION  SHALL  BE  PRESENTED  IN  AN  EASILY UNDERSTANDABLE SUMMARY
FORMAT AND SHALL BE BROKEN DOWN ACCORDING TO HOUSEHOLD  PROBABLE  AGGRE-
GATE  ANNUAL INCOME IN FIVE THOUSAND DOLLAR INTERVALS (E.G. $0 - $4,999:
$5,000 - $9,999: ETC.) AND SHALL INCLUDE:
  (A) THE TOTAL NUMBER OF DWELLINGS AND TENANTS IN EACH INCOME RANGE;
  (B) THE NUMBER OF DWELLINGS IN EACH INCOME RANGE OCCUPIED BY A  TENANT
OR  TENANTS  WHO  ARE  SIXTY-TWO YEARS OF AGE OR OLDER AND THE NUMBER OF
SUCH TENANTS;
  (C) THE NUMBER OF DWELLINGS IN EACH INCOME RANGE OCCUPIED BY A  TENANT
OR  TENANTS  WHO  RECEIVE  ANY  FORM  OF  RENTAL ASSISTANCE, THE TYPE OF
ASSISTANCE AND NUMBER OF TENANTS RECEIVING SUCH ASSISTANCE; AND
  (D) THE NUMBER OF DWELLINGS IN EACH INCOME RANGE OCCUPIED BY A  TENANT
OR TENANTS WHO HAVE AN IMPAIRMENT WHICH RESULTS FROM ANATOMICAL, PHYSIO-
LOGICAL  OR  PSYCHOLOGICAL  CONDITIONS, OTHER THAN ADDICTION TO ALCOHOL,
GAMBLING  OR  ANY  CONTROLLED  SUBSTANCE,  WHICH  ARE  DEMONSTRABLE   BY
MEDICALLY  ACCEPTABLE CLINICAL AND LABORATORY DIAGNOSTIC TECHNIQUES, AND
WHICH ARE EXPECTED TO BE PERMANENT AND WHICH  PREVENT  THE  TENANT  FROM
ENGAGING  IN  ANY  SUBSTANTIAL GAINFUL EMPLOYMENT AND THE NUMBER OF SUCH
TENANTS.
  7. ANY COMPANY THAT SERVES A NOTICE PURSUANT TO  SUBDIVISION  FIVE  OF
THIS  SECTION  SHALL PROVIDE THE COMMISSIONER OR SUPERVISING AGENCY WITH
ALL AVAILABLE INFORMATION TO  ENABLE  THE  COMMISSIONER  OR  SUPERVISING
AGENCY  TO  PREPARE  THE  FOREGOING  REPORT.  SUCH  INFORMATION SHALL BE
ANNEXED TO THE NOTICE SERVED UPON THE COMMISSIONER OR SUPERVISING  AGEN-
CY.  A  NOTICE  SHALL NOT BE DEEMED EFFECTIVE IF IT DOES NOT INCLUDE THE
AVAILABLE REQUIRED INFORMATION.
  S 2. This act shall take effect on the ninetieth day  after  it  shall
have become a law.