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Sponsors
No co-sponsors yet.
History
- Referred to housing, construction and community development
- Referred to housing, construction and community development
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the private housing finance law, in relation to computation of the rental surcharge paid by tenants of limited-profit housing companies
Summary
This bill would amend subdivision 3 of Section 31 of the Private Housing Finance Law by adding a provision to the "surcharge clause" stating that the definition of income used for computing the surcharge for 1974 and after be the definition of income in subdivision 29 of Section 2 of this chapter. It is further stated that for the 1974 surcharge for 1973 income, based on the new definition as intended by the law, be used. If the amount of the rental surcharge previously levied exceeds the surcharge as recomputed, the difference will be reimbursed to the tenant.
Justification
The New York City Department of Housing Preservation and Development by arbitrary administrative decision in implementing L. 1974, Ch. 728 which changed the definition of income, charged residents of city supervised Mitchell-Lama higher surcharges than similarly-situated residents of City-supervised housing. The State Division of Housing and Community Renewal has refused to give administrative relief in this matter, and statutory enactment is thus sought.
Fiscal implications
Minor revenue loss to New York City.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.