New York Senate Bill S05063 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 5063 2023-2024 Regular Sessions  IN SENATE February 22, 2023 ___________ Introduced by Sen. CLEARE -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to direct the 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. Legislative intent. New York state and its localities have 2 invested for more than a half century in the creation of low and middle 3 income housing to benefit those most in need and to the general benefit 4 of state and local economies. In many cases such housing has fallen into 5 disrepair or is being lost as affordable housing due to statutory 6 provisions allowing owners to dissolve housing companies. The unmet need 7 for affordable housing is presently greater than at any time in the 8 state's history. A temporary moratorium on the dissolution of any hous- 9 ing company is necessary for the division of housing and community 10 renewal to 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. LBD09692-01-3 
 S. 5063 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. 19 § 6. Section 96 of the private housing finance law is amended by 20 adding a new subdivision 3 to read as follows: 21 3. Notwithstanding any other provision of this section, no company 22 shall be voluntarily dissolved or terminated, without the consent of the 23 commissioner. 24 § 7. Section 123 of the private housing finance law is amended by 25 adding a new subdivision 8 to read as follows: 26 8. Notwithstanding any other provision of this section, no redevelop- 27 ment company shall dissolve or terminate, without the consent of the 28 local legislative body. 29 § 8. This act shall take effect immediately; provided, that sections 30 five, six and seven of this act shall expire and be deemed repealed 31 twenty-four months after it shall have become a law.