Requires NYCHA to provide information and trainings to residents regarding resident management corporations
What changed between versions
The bill was renamed from S 9723 to S 9723--A and the committee status was updated to reflect that it was amended, discharged, and recommitted.
The definition of a 'resident management corporation' was changed from a general nonprofit of residents to an entity specifically proposing to manage activities for the New York City Housing Authority.
The requirement for incorporation was updated to specify compliance with 'not-for-profit corporation law' rather than general state laws.
By-law requirements were updated to explicitly mention the 'resident management corporation' in multiple clauses for clarity.
The approval process for establishing a corporation was updated to require approval based on federal laws and regulations instead of state requirements.
The training and information requirements were expanded to explicitly include training on the requirements and benefits of resident management corporations.
The effective date clause was modified to reference federal laws and regulations instead of state laws.
The provision allocating two million dollars from the Division of Housing and Community Renewal to the NYC Housing Authority was removed.
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