Initiates a four-year moratorium on privatization voting by Mitchell-Lama building shareholders

Bill A 802 creates a mandatory four-year waiting period before Mitchell-Lama housing cooperative shareholders can vote again on dissolving their building after a failed dissolution vote. It directly affects all shareholders in Mitchell-Lama buildings across New York State by preventing repeated votes on ending their cooperative status. The law requires a minimum four-year pause, though local governments may adopt stricter rules if they choose. This policy change aims to provide stability for affordable housing communities by limiting frequent dissolution attempts.