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A09114 Summary:

SAME ASNo same as
COSPNSRRodriguez, Mosley
Add S35-a, Priv Hous Fin L
Initiates a four-year moratorium on the dissolution of any urban rental Mitchell-Lama company and establishes a Mitchell-Lama housing program study.
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A09114 Text:

                STATE OF NEW YORK
                   IN ASSEMBLY
                                     March 17, 2014
        Introduced by M. of A. WRIGHT -- 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  the dissolution of any urban rental
          Mitchell-Lama company, and in relation to establishing the implementa-
          tion of a Mitchell-Lama housing program study; 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. The private housing finance law is amended by adding a  new
     2  section 35-a to read as follows:
     3    § 35-a. Moratorium on voluntary dissolution. Notwithstanding any other
     4  provision  of  law,  any  urban  rental company created pursuant to this
     5  article and otherwise  eligible  to  voluntarily  dissolve  pursuant  to
     6  section  thirty-five  of  this  article  shall  be  prohibited from such
     7  dissolution.
     8    § 2. 1. Mitchell-Lama housing program study. New York State Homes  and
     9  Community  Renewal, in consultation with the New York City Department of
    10  Housing  Preservation,  shall  execute  a  study  on  the  preservation,

    11  sustainability, reform, and growth of the Mitchell-Lama housing program,
    12  including, but not limited to:
    13    a.  recommendations  for  the  expansion  of the Mitchell-Lama housing
    14  program to address the affordable housing needs of  New  York's  growing
    15  population;
    16    b.  taxation  and  financing models to encourage housing developers to
    17  participate in the Mitchell-Lama housing program;
    18    c. adjusting the amount of time a company must  remain  in  the  Mitc-
    19  hell-Lama housing program before it may voluntarily dissolve;
    20    d.  an  analysis  of  current family income criteria used to determine
    21  access to low- and middle-income housing;
    22    e. a determination of geographic areas of the  state  to  best  locate
    23  potential Mitchell-Lama housing;
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets

                              [ ] is old law to be omitted.

        A. 9114                             2
     1    f. policy initiative responsive to the present and future needs of the
     2  Mitchell-Lama housing program and of Mitchell-Lama developments owned by
     3  urban rental or mutual companies;
     4    g.  the feasibility of methods to preserve and expand the inventory of
     5  Mitchell-Lama housing relative to and within New York's other  low-  and
     6  middle-income housing programs.
     7    2. Preliminary and final study report. New York State Homes and Commu-
     8  nity  Renewal shall submit to the governor, the speaker and the minority
     9  leader of the assembly, and the temporary  president  and  the  minority
    10  leader  of  the senate a preliminary report with findings concerning the

    11  Mitchell-Lama housing program within two years of the effective date  of
    12  this  section.  Four years after the effective date of this section, New
    13  York State Homes and Community Renewal shall submit to the governor, the
    14  speaker and minority leader of the assembly, and the temporary president
    15  and minority leader of the senate a final  report  with  recommendations
    16  respecting the Mitchell-Lama housing program study.
    17    3.  Assistance.  To  the maximum extent possible, New York State Homes
    18  and Community Renewal shall be entitled  to  request  and  receive,  and
    19  shall  utilize and be provided with such facilities, resources, and data
    20  from any state court, department, division, board,  bureau,  commission,
    21  agency,  or  political  subdivision  that they may reasonably request to
    22  properly execute their responsibilities pursuant to this act.

    23    § 3. This act shall take effect immediately, provided,  however,  that
    24  the  provisions  of  section  one of this act shall expire and be deemed
    25  repealed four years after this act shall have become a law.
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