New York State Assembly

Bill No.:  

 
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A00389 Summary:

BILL NO	A00389
SAME AS	No Same As
SPONSOR	Rosenthal L
COSPNSR
MLTSPNSR
Amd §35, Priv Hous Fin L
Initiates a four year moratorium on privatization voting by Mitchell-Lama building shareholders between failed dissolution votes.

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A00389 Actions:

BILL NO	A00389
01/09/2023	referred to housing
01/03/2024	referred to housing

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A00389 Committee Votes:

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A00389 Floor Votes:

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A00389 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           389
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                     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:
 
     1    Section 1. Section 35 of the private housing finance law is amended by
     2  adding a new subdivision 5 to read as follows:
     3    5. (a) In the event of a failed voluntary dissolution vote by a compa-
     4  ny subject to this article, there shall be  a  four-year  moratorium  on
     5  voluntary dissolution voting by such company.
     6    (b) Any city, town or village may enact local laws, ordinances, resol-
     7  utions  or  regulations not less restrictive than those provided in this
     8  subdivision.
     9    (c) The provisions of this subdivision shall not diminish the require-
    10  ments of any other law which may apply to such action.
    11    § 2. This act shall take effect on the ninetieth day  after  it  shall
    12  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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