STATE OF NEW YORK ________________________________________________________________________ 10213 IN ASSEMBLY May 13, 2024 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Davila) -- read once and referred to the Committee on Housing AN ACT to amend chapter 84 of the laws of 1993, amending the private housing finance law relating to establishment of initial rents in housing accommodations rehabilitated with loans to housing development companies, in relation to extending the effectiveness thereof The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 2 of chapter 84 of the laws of 1993, amending the 2 private housing finance law relating to establishment of initial rents 3 in housing accommodations rehabilitated with loans to housing develop- 4 ment companies, as amended by chapter 177 of the laws of 2021, is 5 amended to read as follows: 6 § 2. This act shall take effect immediately and shall remain in full 7 force and effect until and including June 30, [2024] 2027 after which 8 date it shall expire and be deemed repealed except that dwelling units 9 made subject to the rent stabilization law of nineteen hundred sixty- 10 nine pursuant to subdivision 2 of section 576-c of the private housing 11 finance law, as added by section one of this act, shall continue to 12 remain subject to such law. 13 § 2. This act shall take effect immediately; provided, however, that 14 if this act shall have become a law after June 30, 2024, it shall be 15 deemed to have been in full force and effect on and after June 30, 2024. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD15554-01-4