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A02361 Summary:

BILL NO    A02361 


SPONSOR    Lopez V (MS)

COSPNSR    Bing, Kavanagh, Brook-Krasny, Wright, Spano, Robinson

MLTSPNSR   Gibson, Glick, Gottfried, Millman, Rosenthal

Amd S35, Priv Hous Fin L

Requires companies aided by loans under Mitchell-Lama to notify tenants of such
housing of the possibility of buyout from mortgages held which would
potentially result in rent increases not later than twelve months prior to
proposed dissolution; provides such notice shall inform tenants of the nature
of the action, the date intended, the applicable laws and a summary of the
potential consequences including expenses and rent increases which may be
charged; requires the commissioner or supervising agency to prepare a report to
be made available to the tenants of the project.
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