2006 New York Code - Certain Rent Increases Attributable To Capital Assessments And Voluntary Capital Contributions.

 
    §  26-615  Certain  rent increases attributable to capital assessments
  and voluntary capital contributions.  Notwithstanding  any  inconsistent
  provision of law, whenever a rent increase exemption order/tax abatement
  certificate is issued to an eligible head of the household residing in a
  dwelling  unit  owned  by  a  housing  company  which  is subject to the
  provisions of article II, IV, V or XI of the private housing finance law
  entitling such eligible person to  an  exemption  from  an  increase  in
  maximum  rent  attributable to a capital assessment or voluntary capital
  contribution made prior to, on or  after  the  effective  date  of  this
  section  and  such  person  later  transfers  his shares in such housing
  company, such person shall be required  to  pay  over  to  such  housing
  company,  or  such  housing company shall be entitled to deduct from the
  amount to be paid to such person  for  the  sale  of  such  shares,  all
  amounts  covered  by  such  rent  increase exemption order/tax abatement
  certificate  which  are  attributable  to  such  capital  assessment  or
  voluntary  capital  contribution. Such housing company shall not approve
  the transfer of shares unless it has received the  payment  required  by
  the  preceding  sentence  or made the deduction therein authorized. Such
  housing company shall remit such amount to the commissioner  of  finance
  within  ninety  days of the collection thereof. Payments due to the city
  in accordance with this section shall be deemed a tax lien  and  may  be
  enforced in any manner authorized for the collection of delinquent taxes
  on real property.