Bill > A01553

This bill amends the Private Housing Finance Law to require Mitchell-Lama housing companies (affordable housing developments originally created through a state program) to provide comprehensive notification to tenants at least twelve months before taking actions that would dissolve their regulatory status or remove them from government supervision. The notification must include detailed information about the proposed action, such as its nature, anticipated date, legal basis, and potential consequences, including changes in ownership, project supervision, expenses, and rents. Additionally, the bill mandates that within three months of such a notice, the government agency overseeing the housing must prepare a detailed report about the tenants, breaking down demographic information by income ranges, including the number of elderly tenants, those receiving rental assistance, and tenants with permanent disabilities that prevent substantial employment. Companies must provide all available information to help create this report, and local governments are allowed to enact even more stringent notification requirements. The bill aims to protect tenants by ensuring they have advance warning and comprehensive information about potential significant changes to their housing situation that could result in increased costs or loss of affordable housing protections.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A1553