The PCCC Executive Committee is pleased to announce our second significant legislative victory in the last several months. Many of you will remember that our organization was instrumental in the inclusion of Co-ops in the Paycheck Protection Program in the United States Congress in December 2020. 

 

We are pleased to announce that on June 11, 2021, the New York State Legislature passed the Co-op Carve Out Bill, which effectively provides a carve-out from the provisions of the Housing Stability and Tenant Protection Act.

 

The carve-out bill was the result of the hard work of the PCCC Executive Committee. They met with both State Senator Liu and Assemblyman Braunstein on many occasions and as a result of these meetings Senator Liu and Assemblyman Braunstein introduced and sponsored the Co-op Carve Out Legislation. 

 

This legislation was drafted with the direct input of both the PCCC Executive Committee and our legal advisor Geoffrey Mazel, Esq.  Once the bill was drafted the PCCC contacted numerous State elected officials, many of whom ended up co-sponsoring this legislation.

 

On behalf of the Co-op community, we would like to thank both Senator Liu and Assemblyman Braunstein for their tireless efforts on this legislation and for continued support for the Co-op community.