Requires NYCHA to provide information and trainings to residents regarding resident management corporations

The definition of a 'resident management corporation' was changed from a general resident-led nonprofit to an entity that must enter into a contract to manage specific activities of the New York City Housing Authority.

The requirements for establishing a resident management corporation were updated to include compliance with federal laws and regulations for resident councils.

The provision allocating two million dollars from the Division of Housing and Community Renewal to the New York City Housing Authority was completely removed.

The training and information requirements were expanded to explicitly include details about the requirements and potential benefits of creating resident management corporations.