| BILL NO | S02870 |
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| SAME AS | SAME AS A01712
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| SPONSOR | KRUEGER |
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| COSPNSR | HASSELL-THOMPSON, HOYLMAN, PERKINS, RIVERA, SERRANO |
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| MLTSPNSR | |
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| Add S36-b, Priv Hous Fin L |
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| 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; further 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. |
