NY A01787 | 2025-2026 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 14 2025 - 25% progression
Action: 2025-01-14 - referred to housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 14 2025 - 25% progression
Action: 2025-01-14 - referred to housing
Pending: Assembly Housing Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.
Title
Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-14 | Assembly | referred to housing |
Same As/Similar To
S02002 (Same As) 2025-01-14 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
