A04724 - Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.
New York - 2023-2024 General Assembly
Introduced byLinda B. Rosenthal
Last updated over 1 year ago
1 Co-Sponsor
STATUS
Introduced
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