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A802Assembly2025-2026 Session

Pause Privatization Votes Four Years

Official title

“Initiates a four-year moratorium on privatization voting by Mitchell-Lama building shareholders”

Sponsor Linda RosenthalAD-67Affects Housing
Status
In Assembly Committee
Housing
Impact
6/10
Moderate
Passage
15%

Bill progress

Step 2 of 7

In committee · Housing

What's happening

This bill establishes a four-year moratorium on privatization votes for Mitchell-Lama buildings after a failed dissolution vote.

Why it matters

  1. Stabilizes housing for residents. By instituting a four-year waiting period after a failed vote to privatize, the bill ensures that residents of Mitchell-Lama buildings are not subject to repeated, disruptive attempts to dissolve their building’s affordable housing status, giving them greater stability and peace of mind.

  2. Protects affordability and community continuity. The moratorium makes it harder for rapid, repeated efforts to convert Mitchell-Lama buildings to market-rate housing, preserving long-term affordability and helping to prevent displacement of lower- and moderate-income residents.

  3. Empowers local governments. The bill allows cities, towns, and villages to adopt even stricter protections if they wish, potentially creating stronger local safeguards against privatization attempts and tailoring protections to community needs.

  4. Limits pressure tactics and uncertainty. By spacing out dissolution votes, the bill may reduce pressure on shareholders and boards from real estate interests and internal factions, ensuring decisions about privatization are more deliberate and less driven by short-term campaigns.

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Who cares

Headline styles

Pause Privatization Votes Four Years

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Linda Rosenthal

Assembly Member · Assembly District 67

Chair, Housing

No co-sponsors yet.

History

  1. Referred to housing
  2. Referred to housing

Full text

1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

802

2025-2026 Regular Sessions

IN ASSEMBLY (Prefiled)

January 8, 2025

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 initiating a four-year moratorium on privatization voting by Mitchell-Lama building shareholders

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Section 35 of the private housing finance law is amended by adding a new subdivision 5 to read as follows:

5. (a) In the event of a failed voluntary dissolution vote by a company subject to this article, there shall be a four-year moratorium on voluntary dissolution voting by such company.

(b) Any city, town or village may enact local laws, ordinances, resolutions or regulations not less restrictive than those provided in this subdivision.

(c) The provisions of this subdivision shall not diminish the requirements of any other law which may apply to such action.

§ 2. This act shall take effect on the ninetieth day after it shall have become a law.

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD02530-01-5

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.