Bill > A00389

This bill amends the Private Housing Finance Law to initiate a four-year moratorium on privatization voting by Mitchell-Lama building shareholders if a previous voluntary dissolution vote has failed. The Mitchell-Lama program is a New York State affordable housing program that provides rent-regulated apartments to eligible tenants. The bill also allows local governments to enact regulations that are not less restrictive than the provisions of the bill. The bill aims to prevent frequent privatization attempts in Mitchell-Lama buildings following failed dissolution votes, in order to maintain the affordable housing units in these buildings.