Bill Text: NY A01467 | 2011-2012 | General Assembly | Introduced
Bill Title: Initiates a four year moratorium on privatization voting by Mitchell-Lama building shareholders between failed dissolution votes.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-01-04 - referred to housing [A01467 Detail]
Download: New_York-2011-A01467-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
1467
2011-2012 Regular Sessions
I N A S S E M B L Y
January 10, 2011
___________
Introduced by M. of A. ROSENTHAL -- read once and referred to the
Committee on Housing
AN ACT to amend the private housing finance law, in relation to initiat-
ing a four-year moratorium on privatization voting by Mitchell-Lama
building shareholders
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 a new subdivision 5 to read as follows:
3 5. (A) IN THE EVENT OF A FAILED VOLUNTARY DISSOLUTION VOTE BY A COMPA-
4 NY SUBJECT TO THIS ARTICLE, THERE SHALL BE A FOUR-YEAR MORATORIUM ON
5 VOLUNTARY DISSOLUTION VOTING BY SUCH COMPANY.
6 (B) ANY CITY, TOWN OR VILLAGE MAY ENACT LOCAL LAWS, ORDINANCES, RESOL-
7 UTIONS OR REGULATIONS NOT LESS RESTRICTIVE THAN THOSE PROVIDED IN THIS
8 SUBDIVISION.
9 (C) THE PROVISIONS OF THIS SUBDIVISION SHALL NOT DIMINISH THE REQUIRE-
10 MENTS OF ANY OTHER LAW WHICH MAY APPLY TO SUCH ACTION.
11 S 2. This act shall take effect on the ninetieth day after it shall
12 have become a law.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01801-01-1
