Authorizes the state division of housing and community renewal to study housing programs for low and middle income families, and provides for a moratorium on the voluntary dissolution of limited profit, limited dividend and redevelopment housing companies.
STATE OF NEW YORK
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3611
2015-2016 Regular Sessions
IN SENATE
February 13, 2015
___________
Introduced by Sen. ESPAILLAT -- read twice and ordered printed, and when
printed to be committed to the Committee on Housing, Construction and
Community Development
AN ACT authorizing the New York state division of housing and community
renewal to study state and locally aided housing programs and make
recommendations for the preservation, modernization, and increase in
the supply of such housing; to amend the private housing finance law,
in relation to providing a moratorium on the voluntary dissolution of
limited profit, limited dividend and redevelopment housing companies;
and providing for the repeal of certain provisions upon expiration
thereof
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. New York state and its localities have invested for more
2 than a half century in the creation of low and middle income housing to
3 benefit those most in need and to the general benefit of state and local
4 economies. In many cases such housing has fallen into disrepair or is
5 being lost as affordable housing due to statutory provisions allowing
6 owners to dissolve housing companies. The unmet need for affordable
7 housing is presently greater than at any time in the state's history. A
8 temporary moratorium on the dissolution of any housing company is neces-
9 sary for the New York state division of housing and community renewal to
10 complete its work and make recommendations.
11 § 2. The division of housing and community renewal shall undertake a
12 comprehensive study of the present status of state and locally aided low
13 and middle income housing programs and make recommendations with respect
14 to the preservation, modernization, and expansion of the number of hous-
15 ing units provided by such programs. Such recommendations shall include,
16 but not be limited to, methods that may be employed by state and local
17 governments to retain and expand the existing inventory of state and
18 locally aided low and middle income housing so as to preserve such
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD04057-01-5
S. 3611 2
1 inventory of affordable housing for the persons and families such hous-
2 ing is designed to serve.
3 § 3. The division of housing and community renewal shall make a report
4 to the governor and the legislature of its findings, conclusions and
5 recommendations no later than one year after the effective date of this
6 act and shall submit with its report such legislative proposals as it
7 deems necessary to implement its recommendations.
8 § 4. To the maximum extent feasible, the division of housing and
9 community renewal shall be entitled to request and receive and shall
10 utilize and be provided with such facilities, resources and data of any
11 court, department, division, board, bureau, commission or agency of the
12 state or any political subdivision thereof as it may reasonably request
13 to carry out properly its responsibilities pursuant to this act.
14 § 5. Section 35 of the private housing finance law is amended by
15 adding a new subdivision 5 to read as follows:
16 5. Notwithstanding any other provision of this section, no company
17 shall be voluntarily dissolved, without the consent of the commissioner
18 or supervising agency, as the case may be, on or after the effective
19 date of this subdivision.
20 § 6. Section 96 of the private housing finance law is amended by
21 adding a new subdivision 3 to read as follows:
22 3. Notwithstanding any other provision of this section, no company
23 shall be voluntarily dissolved or terminated, without the consent of the
24 commissioner, on or after the effective date of this subdivision.
25 § 7. Section 123 of the private housing finance law is amended by
26 adding a new subdivision 8 to read as follows:
27 8. Notwithstanding any other provision of this section, no redevelop-
28 ment company shall dissolve or terminate, without the consent of the
29 local legislative body, on or after the effective date of this subdivi-
30 sion.
31 § 8. This act shall take effect immediately; provided, that sections
32 five, six and seven of this act shall expire and be deemed repealed
33 twenty-four months after it shall have become a law. Effective imme-
34 diately, the addition, amendment and/or repeal of any rule or regulation
35 necessary for the implementation of this act on its effective date is
36 authorized to be made on or before such effective date.
