STATE OF NEW YORK
        ________________________________________________________________________
                                          5119
                               2019-2020 Regular Sessions
                    IN SENATE
                                      April 9, 2019
                                       ___________
        Introduced  by Sen. KAVANAGH -- 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 emergency tenant protection act of nineteen seven-
          ty-four, in relation to the declaration  of  housing  emergencies  for
          rental  housing  accommodations  located in buildings owned by certain
          limited-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 5 of section 4 of chapter 576 of the laws of 1974,
     2  constituting the emergency tenant protection act  of  nineteen  seventy-
     3  four, is amended by adding a new subdivision c to read as follows:
     4    c. Notwithstanding the provisions of paragraph three or five of subdi-
     5  vision  a of this section but subject to any other applicable exceptions
     6  in such subdivision, rental housing accommodations located in  buildings
     7  which were owned by a company established under article 2 of the private
     8  housing  finance  law,  other  than  a  mutual company, that voluntarily
     9  dissolved pursuant to section 35 of such law shall be fully  subject  to
    10  the  provisions  of this act.  The provision of subdivision a of section
    11  nine of this act shall not apply  to  any  housing  accommodation  which
    12  became subject to this act pursuant to this subdivision.
    13    § 2. This act shall take effect immediately and shall apply to housing
    14  companies  that dissolve before, on or after such date; provided, howev-
    15  er, that the amendments to the emergency tenant protection act of  nine-
    16  teen  seventy-four  made  by this act shall not affect the expiration of
    17  such act as provided in section 17 of chapter 576 of the laws  of  1974,
    18  as amended and shall be deemed to expire therewith.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06632-01-9