Senate Bill S6604

Signed By Governor
2021-2022 Legislative Session

Extends the authority of the local housing agency in New York city to restructure rents in certain residential buildings

download bill text pdf

Sponsored By

Archive: Last Bill Status - 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-S6604 (ACTIVE) - Details

See Assembly Version of this Bill:
A7664
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §5, Chap 449 of 1986
Versions Introduced in 2023-2024 Legislative Session:
S9413

2021-S6604 (ACTIVE) - Summary

Extends the authority of the local housing agency in New York city to restructure rents in certain residential buildings.

2021-S6604 (ACTIVE) - Sponsor Memo

2021-S6604 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6604
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 10, 2021
                                ___________
 
 Introduced  by  Sen.  JACKSON  -- (at request of the NYC H.P.D.) -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee on Housing, Construction and Community Development
 
 AN  ACT  to  amend chapter 449 of the laws of 1986, amending the private
   housing finance law relating to establishing initial rents in  respect
   of certain loans to owners of existing multiple dwellings, in relation
   to the effectiveness thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 5 of chapter 449 of the laws of 1986, amending  the
 private  housing  finance  law relating to establishing initial rents in
 respect of certain loans to owners of existing  multiple  dwellings,  as
 amended  by  chapter  95  of  the  laws  of  2018, is amended to read as
 follows:
   § 5. This  act  shall  take  effect  immediately;  provided  that  the
 provisions  of  sections  one,  two and four of this act shall remain in
 full force and effect until and including June 30, [2021] 2024, provided
 further that dwelling units made subject to the rent  stabilization  law
 of  nineteen  hundred  sixty-nine  pursuant to such sections of this act
 shall continue to remain subject to such law.
   § 2. This act shall take effect immediately; provided,  however,  that
 if  this  act  shall  have  become a law after June 30, 2021 it shall be
 deemed to have been in full force and effect on and after June 30, 2021.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11220-01-1

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