NY State Senate Bill 2021-S6606

Senate Bill S6606

Signed By Governor

2021-2022 Legislative Session

Relates to rehabilitated multiple dwellings acquired and reconveyed by the federal government

download bill text pdf

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

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jun 29, 2021	signed chap.178
Jun 17, 2021	delivered to governor
Jun 07, 2021	returned to senate passed assembly ordered to third reading rules cal.500 substituted for a7669
May 25, 2021	referred to housing delivered to assembly passed senate
May 24, 2021	advanced to third reading
May 20, 2021	2nd report cal.
May 18, 2021	1st report cal.1096
May 10, 2021	referred to housing, construction and community development

Votes

- May 25, 2021 - Floor Vote
  S6606
  
  63
  
  Aye
  
  0
  
  Nay
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: May 25, 2021
      
      aye (63)
      
      Addabbo Jr.
      
      Akshar
      
      Bailey
      
      Benjamin
      
      Biaggi
      
      Borrello
      
      Boyle
      
      Breslin
      
      Brisport
      
      Brooks
      
      Brouk
      
      Comrie
      
      Cooney
      
      Felder
      
      Gallivan
      
      Gaughran
      
      Gianaris
      
      Gounardes
      
      Griffo
      
      Harckham
      
      Helming
      
      Hinchey
      
      Hoylman-Sigal
      
      Jackson
      
      Jordan
      
      Kaminsky
      
      Kaplan
      
      Kavanagh
      
      Kennedy
      
      Krueger
      
      Lanza
      
      Liu
      
      Mannion
      
      Martucci
      
      Mattera
      
      May
      
      Mayer
      
      Myrie
      
      O'Mara
      
      Oberacker
      
      Ortt
      
      Palumbo
      
      Parker
      
      Persaud
      
      Ramos
      
      Rath III
      
      Reichlin-Melnick
      
      Ritchie
      
      Rivera
      
      Ryan
      
      Salazar
      
      Sanders Jr.
      
      Savino
      
      Sepúlveda
      
      Serino
      
      Serrano
      
      Skoufis
      
      Stavisky
      
      Stec
      
      Stewart-Cousins
      
      Tedisco
      
      Thomas
      
      Weik
  May 18, 2021 - Housing, Construction And Community Development Committee Vote
  S6606
  
  11
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Housing, Construction And Community Development Committee Vote: May 18, 2021
      
      aye (11)
      
      Boyle
      
      Brisport
      
      Helming
      
      Jackson
      
      Kavanagh
      
      Mannion
      
      Martucci
      
      Myrie
      
      Rivera
      
      Ryan
      
      Salazar

2021-S6606 (ACTIVE) - Details

See Assembly Version of this Bill:: A7669
Law Section:: Private Housing Finance Law
Laws Affected:: Amd §2, Chap 253 of 2004
Versions Introduced in 2023-2024 Legislative Session:: S9412, A10223

2021-S6606 (ACTIVE) - Summary

Extends expiration of authority granted to the department of housing preservation and development of the city of New York to restructure rents of dwelling units in buildings foreclosed upon by the federal government.

2021-S6606 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S6606

SPONSOR: LIU
 
TITLE OF BILL:

An act to amend chapter 253 of the laws of 2004 amending the private
housing finance law relating to rehabilitated multiple dwellings
acquired and reconveyed by the federal government, in relation to the
effectiveness thereof

 
SUMMARY OF PROVISIONS:

Chapter 253 of the Laws of 2004 granted the New York City Department of
Housing Preservation and Development the authority to restructure the
rents of dwelling units in buildings acquired by the federal government
as a result of the foreclosure of a mortgage loan insured or held by the
federal government. The restructuring authority was conditioned upon the
properties being rehabilitated, and is scheduled to expire on June 30,
2021. This bill extends this authority to June 30, 2024.

 
REASONS FOR SUPPORT:

The federal 203(k) home mortgage scandal left approximately 500 small
homes, tenements and brownstones in New York City facing foreclosure
because the properties were bought and resold at inflated prices with
owners in many instances pocketing the money that was intended for
necessary repairs.

The United States Department of Housing and Urban Development (HUD) and
the New York City Department of Housing Preservation and Development
(HPD) have undertaken a joint effort to rehabilitate and transfer these
buildings to qualified owners. HUD has contributed federal money toward
the rehabilitation cost.

The authority to restructure rents following the rehabilitation of a
building is necessary for the operation of an affordable housing devel-
opment. It is essential that sufficient building income exist to pay the
maintenance, operating costs and debt service of a multiple dwelling or
small home. Rent restructuring authority currently exists in every reha-
bilitation statute found in the New York State Private Housing Finance
Law. Such authority is conditioned, however, upon the rehabilitation
being financed by City capital funding. In the instance of the 203(k)
properties, the rehabilitation financing is federal. This legislation
would extend the authority to restructure rents for 203(k) properties to
June 30, 2024.

Permitting these troubled properties to be eligible for rent restructur-
ing is essential in order for these buildings to be a source of afforda-
ble housing for the residents of the City of New York.

Accordingly, the Mayor urges the earliest possible favorable consider-
ation of this proposal by the Legislature.

2021-S6606 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6606
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               May 10, 2021
                                ___________
 
 Introduced  by  Sen. LIU -- (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 253 of the laws of  2004  amending  the  private
   housing  finance  law  relating  to  rehabilitated  multiple dwellings
   acquired and reconveyed by the federal government, 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 2 of chapter 253 of the laws of 2004  amending  the
 private housing finance law relating to rehabilitated multiple dwellings
 acquired and reconveyed by the federal government, as amended by chapter
 96 of the laws of 2018, is amended to read as follows:
   §  2.  This  act shall take effect immediately and shall expire and be
 deemed repealed June 30, [2021] 2024.
   § 2. This act shall take effect immediately; provided,  however,  that
 if  this act shall have become a law after June 30, 2021, this act shall
 take effect immediately and 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.
                                                            LBD11217-01-1

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.