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File #: Int 0783-2015    Version: Name: Interest rate applied to unpaid charges for emergency repairs performed by the department of housing preservation and development.
Type: Introduction Status: Enacted
Committee: Committee on Housing and Buildings
On agenda: 4/28/2015
Enactment date: 11/30/2015 Law number: 2015/105
Title: A Local Law to amend the administrative code of the city of New York, in relation to the interest rate applied to unpaid charges for emergency repairs performed by the department of housing preservation and development
Sponsors: Jumaane D. Williams, Ruben Wills, Helen K. Rosenthal, Ben Kallos, Inez D. Barron
Council Member Sponsors: 5
Summary: This bill would change the rate of interest applied by the Department of Finance to unpaid charges owed by landlords to the City for emergency repair work conducted by the Department of Housing Preservation and Development. Currently, the rate of interest is set at 7%. This bill would change the rate of interest to whatever rate the Council adopts in each fiscal year for the nonpayment of real property taxes.
Attachments: 1. Summary of Int. No. 783, 2. Int. No. 783 - 4/28/15, 3. April 28, 2015 - Stated Meeting Agenda with Links to Files, 4. Committee Report 9/16/15, 5. Hearing Testimony 9/16/15, 6. Hearing Transcript 9/16/15, 7. Committee Report 10/30/15, 8. Hearing Transcript 10/30/15, 9. November 10, 2015 - Stated Meeting Agenda with Links to Files, 10. Fiscal Impact Statement, 11. Int. No. 783-A (FINAL), 12. Hearing Transcript of the Stated Meeting - November 10, 2015, 13. Mayor's Letter, 14. Int. No. 783-A - FINAL, 15. Local Law 105, 16. Minutes of the Stated Meeting - November 10, 2015
Date Ver.Prime SponsorAction ByActionResultAction DetailsMeeting DetailsMultimedia
11/30/2015AJumaane D. Williams City Council Recved from Mayor by Council  Action details Meeting details Not available
11/30/2015AJumaane D. Williams Mayor Signed Into Law by Mayor  Action details Meeting details Not available
11/30/2015AJumaane D. Williams Mayor Hearing Held by Mayor  Action details Meeting details Not available
11/10/2015AJumaane D. Williams City Council Sent to Mayor by Council  Action details Meeting details Not available
11/10/2015AJumaane D. Williams City Council Approved by CouncilPass Action details Meeting details Not available
10/30/2015*Jumaane D. Williams Committee on Housing and Buildings Hearing Held by Committee  Action details Meeting details Not available
10/30/2015*Jumaane D. Williams Committee on Housing and Buildings Amendment Proposed by Comm  Action details Meeting details Not available
10/30/2015*Jumaane D. Williams Committee on Housing and Buildings Amended by Committee  Action details Meeting details Not available
10/30/2015AJumaane D. Williams Committee on Housing and Buildings Approved by CommitteePass Action details Meeting details Not available
9/16/2015*Jumaane D. Williams Committee on Housing and Buildings Hearing Held by Committee  Action details Meeting details Not available
9/16/2015*Jumaane D. Williams Committee on Housing and Buildings Laid Over by Committee  Action details Meeting details Not available
4/28/2015*Jumaane D. Williams City Council Referred to Comm by Council  Action details Meeting details Not available
4/28/2015*Jumaane D. Williams City Council Introduced by Council  Action details Meeting details Not available

Int. No. 783-A

 

By Council Members Williams, Wills, Rosenthal, Kallos and Barron

 

A Local Law to amend the administrative code of the city of New York, in relation to the interest rate applied to unpaid charges for emergency repairs performed by the department of housing preservation and development

 

 Be it enacted by the Council as follows:

 

Section 1. Subdivision d of section 27-2144 of the administrative code of the city of New York, as amended by local law number 19 for the year 2009, is amended to read as follows:

d. If such charge is not paid by the date when such charge is due and payable in accordance with subdivision c of this section, it shall be the duty of the department of finance to receive interest thereon [at the rate of seven percent per annum], to be calculated to the date of payment from the due and payable date. The rate of interest applied to such unpaid charge shall be the higher of seven percent per annum, or the rate applicable to such premises for nonpayment of taxes on real property pursuant to subdivision (e) of section 11-224.1.

§ 2. This local law takes effect July 1, 2016.

RC/JW

10/20/15 - 851p

LS#1858