S02002Introduced in the Senate
Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.
Introduced by Liz Krueger, District 28
What does this bill do?
Plain-English breakdown
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Official description
Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.
Where it stands
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
January 7, 2026
How did lawmakers vote?
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What do people think?
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Bill history
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
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