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A02361 Summary:

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A02361 Floor Votes:

A02361 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          2361
 
                               2009-2010 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 15, 2009
                                       ___________
 
        Introduced  by  M. of A. V. LOPEZ, BING, KAVANAGH, BROOK-KRASNY, WRIGHT,
          SPANO, ROBINSON -- Multi-Sponsored by -- M. of  A.  GLICK,  GOTTFRIED,
          MILLMAN, ROSENTHAL -- read once and referred to the Committee on Hous-
          ing
 
        AN  ACT to amend the private housing finance law, in relation to notifi-

          cation of tenants of pending "buy out" from mortgages by Mitchell-Lama
          building owners
 
          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 two new subdivisions 5 and 6 to read as follows:
     3    5.  (a)  Any  company  which intends to dissolve or otherwise take any
     4  action which would cause the company to no longer be subject  to  super-
     5  vision  of  the  commissioner or the supervising agency shall provide to
     6  every lease holder of an apartment  in  the  project  of  such  company,
     7  notice not less than twelve months prior to the anticipated date of such
     8  action containing the following information in plain language:

     9    (i) the nature of the action which the company intends to take;
    10    (ii) the date on which such action is anticipated to take place;
    11    (iii)  the  provisions  of  law  or  regulation pursuant to which such
    12  action is authorized; and
    13    (iv) a summary of the potential consequences of such  action,  includ-
    14  ing, but not limited to, its effect on the following:
    15    (1) ownership of the project;
    16    (2) supervision of the project;
    17    (3) expenses of the project including taxes and other municipal charg-
    18  es; and
    19    (4) rents.
    20    (b) Any city, town or village may enact local laws, ordinances, resol-
    21  utions  or  regulations not less restrictive than those provided in this
    22  subdivision.
 

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
        A                                                          LBD05739-01-9
        A. 2361                             2
 
     1    (c) The provisions of this subdivision shall not diminish the require-
     2  ments of any other law which may apply to such action.
     3    6.  Within three months of receipt of a notice of intent to buy-out as
     4  provided in subdivision five of this section, the commissioner or super-
     5  vising agency shall prepare and make available to  all  tenants  of  the
     6  project  and  to their designated representative a report which provides
     7  the following information relating to the tenants of  the  project.  The

     8  information  shall  be  presented  in  an  easily understandable summary
     9  format and shall be broken down according to household  probable  aggre-
    10  gate  annual income in five thousand dollar intervals (e.g. $0 - $4,999:
    11  $5,000 - $9,999: etc.) and shall include:
    12    (a) The total number of dwellings and tenants in each income range;
    13    (b) The number of dwellings in each income range occupied by a  tenant
    14  or  tenants  who  are  sixty-two years of age or older and the number of
    15  such tenants;
    16    (c) The number of dwellings in each income range occupied by a  tenant
    17  or  tenants  who  receive  any  form  of  rental assistance, the type of
    18  assistance and number of tenants receiving such assistance; and

    19    (d) The number of dwellings in each income range occupied by a  tenant
    20  or tenants who have an impairment which results from anatomical, physio-
    21  logical  or  psychological  conditions, other than addiction to alcohol,
    22  gambling  or  any  controlled  substance,  which  are  demonstrable   by
    23  medically  acceptable clinical and laboratory diagnostic techniques, and
    24  which are expected to be permanent and which  prevent  the  tenant  from
    25  engaging  in  any  substantial gainful employment and the number of such
    26  tenants.
    27    Any company that serves a notice pursuant to subdivision five of  this
    28  section  shall  provide  the commissioner or supervising agency with all
    29  available information to enable the commissioner or  supervising  agency

    30  to  prepare  the  foregoing report. Such information shall be annexed to
    31  the notice served upon the commissioner or supervising agency. A  notice
    32  shall  not  be  deemed  effective  if  it does not include the available
    33  required information.
    34    § 2. This act shall take effect on the ninetieth day  after  it  shall
    35  have become a law.