Assembly Bill A389

2023-2024 Legislative Session

Initiates a four-year moratorium on privatization voting by Mitchell-Lama building shareholders

download bill text pdf

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Current 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

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2023-A389 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §35, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A11156
2011-2012: A1467
2013-2014: A700
2015-2016: A560
2017-2018: A3199
2019-2020: A1105
2021-2022: A542

2023-A389 (ACTIVE) - Summary

Initiates a four year moratorium on privatization voting by Mitchell-Lama building shareholders between failed dissolution votes.

2023-A389 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    389
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 9, 2023
                                ___________
 
 Introduced  by  M.  of  A. L. ROSENTHAL -- 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 privatization  voting  by  Mitchell-Lama
   building shareholders
 
   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 a new subdivision 5 to read as follows:
   5. (A) IN THE EVENT OF A FAILED VOLUNTARY DISSOLUTION VOTE BY A COMPA-
 NY SUBJECT TO THIS ARTICLE, THERE SHALL BE  A  FOUR-YEAR  MORATORIUM  ON
 VOLUNTARY DISSOLUTION VOTING BY SUCH COMPANY.
   (B) ANY CITY, TOWN OR VILLAGE MAY ENACT LOCAL LAWS, ORDINANCES, RESOL-
 UTIONS  OR  REGULATIONS NOT LESS 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.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00753-01-3

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