Authorizes a limited profit housing company aggrieved by a decision regarding the maximum rentals permitted to be charged by such company, made by the commissioner of housing and community renewal or by the supervising agency which sets maximum rentals to be charged, to seek arbitration of such decision.
STATE OF NEW YORK
________________________________________________________________________
2623
2011-2012 Regular Sessions
IN SENATE
January 27, 2011
___________
Introduced by Sen. KRUGER -- read twice and ordered printed, and when
printed to be committed to the Committee on Housing, Construction and
Community Development
AN ACT to amend the private housing finance law, in relation to provid-
ing for arbitration with respect to rental increases granted to limit-
ed-profit housing companies
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 31 of the private housing finance law is amended by
2 adding a new subdivision 13 to read as follows:
3 13. Any company aggrieved by a decision made by the commissioner or
4 the supervising agency which sets the maximum rentals to be charged for
5 any dwelling or accommodation subject to the provisions of this article
6 may contest such decision before an impartial arbitrator chosen in the
7 manner for, and utilizing the services of, the American Arbitration
8 Association, provided, however, that all costs and expenses relating to
9 such arbitration proceeding (other than the expenses directly incurred
10 by the commissioner or the supervising agency in defending their
11 original decision before the arbitrator) shall be paid by the company.
12 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD07059-01-1
