“There was a time crunch. It was referred” to the rules committee, said Sabrina Rezzy, the assemblywoman’s spokeswoman. “We don’t know what happened.”

Property owners and small businesses alike objected to several components of the bill. One concern was that interest payments would accrue even if the mortgage payments were deferred, potentially leaving a massive debt burden.

Another element that drew criticism was the fact that the bills excluded property owners of buildings with more than four units.

Bichotte told Crain’s last week that the Assembly compromised on supporting owners who owned buildings with four or fewer units, as some members worried that relief for owners of five or more units would “set a precedent for the big real estate companies to be bailed out.”

Source Google News