A 5381 New York Assembly · 2025 Regular Session

Expands documentation requirements for limited-profit housing companies

Summary

Expands documentation requirements for limited-profit housing companies when providing information to the commissioner of housing of the state of New York and any relevant supervising agency.

Issues: ✓ Housing

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 13, 2025 Last action Mar 31, 2026

Maddy AI version diff · 1 comparison

What changed between versions

A5381 → A5381A · 3 edits

MINOR

The bill was amended to clarify that the new audit requirements apply to existing companies under the Private Housing Finance Law, rather than creating an entirely new section. It also expanded the list of documents companies must provide to auditors to include board member service history.

Scope change

The bill's scope was clarified to amend an existing section of the law rather than adding a new one, ensuring the requirements apply to all relevant companies immediately.

REQUIREMENT

Changed the legislative mechanism from adding a new section to amending an existing section of the Private Housing Finance Law.

Added a requirement for companies to disclose the length of service, including any breaks, for each board member.

Updated the filing frequency for financial statements to be semi-annual or quarterly in addition to annual.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Mar 31, 2026

Committee

REPORTED REFERRED TO WAYS AND MEANS

lower

Mar 27, 2026

Lower · Passed

PRINT NUMBER 5381A

lower

Mar 27, 2026

Lower · Passed

AMEND (T) AND RECOMMIT TO HOUSING

lower

Jan 7, 2026

Committee

REFERRED TO HOUSING

lower

Feb 13, 2025

Committee

REFERRED TO HOUSING

lower

1 primary · 1 co-sponsor