Bill > A00189

This bill amends the Private Housing Finance Law to modify the supervisory powers of state and municipal agencies over limited profit housing companies. Currently, when a housing company is believed to be failing to comply with laws or orders, or acting in a way that could harm public interests, the commissioner or supervising agency may take action. The bill changes the language from discretionary ("may") to mandatory ("shall"), requiring these agencies to take necessary steps to address potential violations. These steps can include initiating a legal action in the New York State Supreme Court to stop or prevent violations, with the court empowered to appoint a temporary or permanent receiver if needed. The court is instructed to conduct an inquiry into the facts without strict technical requirements, and can join additional parties to make its judgment more effective. The final judgment can dismiss the action, issue an order or injunction, appoint a receiver, or provide other appropriate relief. The bill aims to strengthen oversight and provide more robust mechanisms for addressing potential misconduct in limited profit housing companies.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A189