S02002
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.
- StageIntroduced
- StatusActive
- Session2025-2026 Regular Session
Latest reported action
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
Details updating — summary is available while full bill details sync.
