What's happening
This bill requires the commissioner or supervising agency to take necessary steps to remedy violations by limited profit housing companies.
Why it matters
Strengthens government accountability. By changing "may" to "shall," the bill makes it a legal obligation—not just an option—for the commissioner or supervising agency to take action when limited profit housing companies violate the law or regulations. This ensures government officials must respond to violations rather than potentially ignoring them.
Provides stronger protection for tenants and the public. The amendment aims to more effectively safeguard the interests of tenants, the public, lienholders, and stockholders by requiring authorities to pursue remedies against non-compliant housing companies, which could improve living conditions and housing stability.
Could lead to more active enforcement. Mandating action may result in more frequent investigations, legal proceedings, or court interventions (including the appointment of receivers) to correct or prevent violations, increasing operational pressure on limited profit housing companies to comply with the law.
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Who cares
Headline styles
Strengthen Housing Oversight Powers
Plain English, a few words. Used as the page title.
Sponsors
History
- Ordered to third reading cal.8
- Advanced to third reading cal.25
- Reported
- Referred to housing
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
189
2025-2026 Regular Sessions
IN ASSEMBLY (Prefiled)
January 8, 2025
Introduced by M. of A. ROSENTHAL, SEAWRIGHT, SIMON, REYES, COOK, RAGA -read once and referred to the Committee on Housing
AN ACT to amend the private housing finance law, in relation to the supervision of certain limited profit housing companies
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision 7 of section 32 of the private housing finance law, as amended by chapter 550 of the laws of 1968, is amended to read as follows:
7. Whenever the commissioner, in the case of a company undertaking or otherwise operating a state-aided project, or the supervising agency, in the case of a company undertaking or otherwise operating a municipallyaided project, shall be of the opinion that such company is failing or omitting, or is about to fail or omit to do anything required of it by law or by order of the commissioner or is doing or is about to do anything, or permitting anything, or is about to permit anything to be done, contrary to and in violation of law or of any order, regulation or directive of the commissioner or the supervising agency, as the case may be, or which is improvident or prejudicial to the interest of the public, the lienholders, the stockholders, or the tenants, the commissioner or the supervising agency, as the case may be, [may, in addition to such other remedies as may be available, commence] shall take such steps, as may be necessary and proper to effect such remedies as may be available. Such remedy may include commencing an action or proceeding in the supreme court of the state of New York in the name of the commissioner or the supervising agency, as the case may be, for the purpose of having such violations or threatened violations stopped and prevented, and in such action or proceeding the court may appoint a temporary or permanent receiver or both. Such action or proceeding shall be commenced by a petition to the supreme court, alleging the violation complained of
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD00947-01-5
and praying for appropriate relief. It shall thereupon be the duty of the court to specify the time, not exceeding twenty days after service of a copy of the petition, within which the company complained of must answer the petition. In case of any default or after answer the court shall immediately inquire into the facts and circumstances in such manner as the court shall direct without other or formal pleadings, and without respect to any technical requirements. Such other persons or corporations as it shall seem to the court necessary or proper to join as parties in order to make its order or judgment effective, may be joined as parties. The final judgment in any such action or proceeding shall either dismiss the action or proceeding or direct that an order or an injunction, or both, issue, or provide for the appointment of a receiver as prayed for in the petition, and grant such other relief as the court may deem appropriate.
§ 2. This act shall take effect immediately.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.