New York City Council Header
File #: Int 1383-2019    Version: * Name: Extending the Council review period for third party transfer of property.
Type: Introduction Status: Committee
Committee: Committee on Finance
On agenda: 1/24/2019
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to extending the Council review period for third party transfer of property
Sponsors: Rafael Salamanca, Jr., Robert E. Cornegy, Jr., Mark Levine, Alicka Ampry-Samuel
Council Member Sponsors: 4
Summary: This bill would extend the current review period for the City Council to approve or disapprove properties recommended for Third Party Transfer from 45 days to 90 days.
Attachments: 1. Summary of Int. No. 1383, 2. Int. No. 1383, 3. January 24, 2019 - Stated Meeting Agenda with Links to Files, 4. Hearing Transcript - Stated Meeting 1-24-19

Int. No. 1383

 

By Council Members Salamanca, Cornegy, Levine and Ampry-Samuel

 

A Local Law to amend the administrative code of the city of New York, in relation to extending the Council review period for third party transfer of property

 

Be it enacted by the Council as follows:

 

Section 1. Section 11-412.2 of chapter 4 of title 11 of the administrative code of the city of New York, as added by local law number 37 for the year 1996, is amended to read as follows:

§ 11-412.2 Council review of conveyance to a third party.  The commissioner of finance shall, prior to the execution of a deed conveying full and complete title of any parcel of class one or class two real property to a third party pursuant to subdivision c of section 11-412.1 of this chapter, notify the council of the proposed conveyance. Within [forty-five] 90 days of such notification, the council may act by local law disapproving the proposed conveyance. In the event the council does not act by local law within such [forty-five] 90 day period, the council shall be deemed to have approved the proposed conveyance. During such [forty-five] 90 day period or, if the city council acts by local law pursuant to this section, during the period of time from the notification of the council to the presentation to the mayor of such local law and during any additional period of time prescribed in section 37 of the charter, the eight-month period provided in subdivisions c and i of section 11-412.1 of this chapter shall be tolled.

§ 2. This local law takes effect immediately.

 

 

 

 

 

MJT

LS #8810

3:50pm 12/14/2018