Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 05, 2022 |
referred to housing |
Jan 06, 2021 |
referred to housing |
Assembly Bill A621
2021-2022 Legislative Session
Sponsored By
ROSENTHAL L
Archive: Last Bill Status - In Assembly Committee
- 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
Actions
co-Sponsors
Stacey Pheffer Amato
2021-A621 (ACTIVE) - Details
2021-A621 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 621 2021-2022 Regular Sessions I N A S S E M B L Y (PREFILED) January 6, 2021 ___________ Introduced by M. of A. L. ROSENTHAL, PHEFFER AMATO -- read once and referred to the Committee on Housing AN ACT to amend the private housing finance law, in relation to direct- ing the department of housing preservation and development of the city of New York to promulgate rules and regulations regarding mutual hous- ing companies considering dissolution and/or reconstitution 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: § 35-A. RULES AND REGULATIONS REGARDING DISSOLUTION. THE COMMISSIONER OR SUPERVISING AGENCY SHALL PROMULGATE RULES AND REGULATIONS REGARDING MUTUAL HOUSING COMPANIES CONSIDERING DISSOLUTION AND/OR RECONSTITUTION PURSUANT TO SECTION THIRTY-FIVE OF THIS ARTICLE. SUCH RULES AND REGU- LATIONS SHALL AT A MINIMUM INCLUDE: 1. A REQUIREMENT THAT ANY VOTE FOR DISSOLUTION OF THE COMPANY, OR FOR AUTHORIZATION OF A FEASIBILITY STUDY, A PRELIMINARY OFFERING PLAN WHICH MAY BE REFERRED TO AS A RED HERRING, A FINAL OFFERING PLAN WHICH MAY BE REFERRED TO AS A BLACK BOOK, A PROXY STATEMENT, OR TO SEND A NOTICE OF INTENT TO DISSOLVE TO THE COMMISSIONER OR SUPERVISING AGENCY SHALL REQUIRE THE APPROVAL OF EIGHTY PERCENT OF ALL DWELLING UNITS, BOTH OCCU- PIED AND UNOCCUPIED, OWNED BY THE MUTUAL HOUSING COMPANY. 2. A REQUIREMENT THAT NO FUNDS FROM THE OPERATING BUDGET OF THE MUTUAL HOUSING COMPANY SHALL BE USED FOR THE PREPARATION OR DISTRIBUTION OF A FEASIBILITY STUDY, A PRELIMINARY OFFERING PLAN OR RED HERRING, A FINAL OFFERING PLAN OR BLACK BOOK, A PROXY STATEMENT, OR A NOTICE OF INTENT TO DISSOLVE; OR TO PAY FOR ANY SERVICES RELATED TO EVALUATION OF, PREPARA- TION FOR, OR EXECUTION OF DISSOLUTION AND/OR RECONSTITUTION PURSUANT TO SECTION THIRTY-FIVE OF THIS ARTICLE, INCLUDING BUT NOT LIMITED TO LEGAL SERVICES. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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