Assembly Bill A467

2023-2024 Legislative Session

Provides that in New York city, the rent following the dissolution date shall be the last rent authorized for the affected dwelling

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Sponsored By

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

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2023-A467 (ACTIVE) - Details

Current Committee:
Assembly Housing
Law Section:
Private Housing Finance Law
Laws Affected:
Add §35-b, Priv Hous Fin L
Versions Introduced in Other Legislative Sessions:
2009-2010: A9854
2011-2012: A1926
2013-2014: A1128
2015-2016: A723
2017-2018: A4159
2019-2020: A957
2021-2022: A1904
2025-2026: A887

2023-A467 (ACTIVE) - Summary

Provides that in cities with a population of one million or more, the rent following the dissolution date of Mitchell-Lama developments shall be the last rent authorized for the affected dwelling.

2023-A467 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    467
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              January 9, 2023
                                ___________
 
 Introduced  by  M. of A. L. ROSENTHAL, BENEDETTO, COOK, DINOWITZ, COLTON
   -- Multi-Sponsored by -- M. of A.  GLICK,  HEVESI  --  read  once  and
   referred to the Committee on Housing
 
 AN  ACT to amend the private housing finance law, in relation to limited
   profit housing companies in a city with a population of one million or
   more

   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-b to read as follows:
   § 35-B. RENT FOLLOWING DISSOLUTION. 1. AS USED IN  THIS  SECTION,  THE
 FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A)  "AFFECTED DEVELOPMENT" SHALL MEAN HOUSING ACCOMMODATIONS THAT (I)
 PRIOR TO THE DISSOLUTION DATE WERE  OPERATED  AS  A  RENTAL  DEVELOPMENT
 PURSUANT  TO  THIS  ARTICLE; AND (II) FOLLOWING THE DISSOLUTION DATE ARE
 SUBJECT TO THE RENT STABILIZATION LAW OF NINETEEN HUNDRED SIXTY-NINE  OR
 THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN SEVENTY-FOUR.
   (B)  "AFFECTED DWELLING UNIT" SHALL MEAN A HOUSING UNIT IN AN AFFECTED
 DEVELOPMENT.
   (C) "AFFECTED HOUSING COMPANY" SHALL  MEAN  A  LIMITED-PROFIT  HOUSING
 COMPANY WITH AN AFFECTED DEVELOPMENT.
   (D) "DISSOLUTION DATE" SHALL MEAN, WITH RESPECT TO ANY AFFECTED DEVEL-
 OPMENT,  THE DATE OF DISSOLUTION OR RECONSTITUTION OF THE AFFECTED HOUS-
 ING COMPANY WITH SUCH AFFECTED DEVELOPMENT PURSUANT TO  SECTION  THIRTY-
 FIVE OF THIS ARTICLE.
   2.  NOTWITHSTANDING  THE  PROVISIONS  OF ANY GENERAL, SPECIAL OR LOCAL
 LAW:  (A) THE INITIAL LEGAL REGULATED RENT  FOR  ANY  AFFECTED  DWELLING
 UNIT ON AND AFTER THE DISSOLUTION DATE SHALL BE THE LAST RENT AUTHORIZED
 FOR  THE  AFFECTED  DWELLING UNIT BEFORE THE DISSOLUTION DATE, INCLUDING
 RENTAL SURCHARGES, IF ANY, AND (B) SUCH LEGAL REGULATED RENT  SHALL  NOT
 AT  ANY  TIME  BE  SUBJECT  TO  ADJUSTMENT  PURSUANT TO SUBDIVISION A OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00883-01-3

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