NY S08090

Amends rent control exemption language in the Emergency Housing Rent Control Law, Emergency Tenant Protection Act of 1974, and NYC Administrative Code by replacing "that was" with "of" to clarify that housing accommodations with legal regulated rents of $2,700 or more per month (as adjusted annually) become exempt from rent control when they become vacant after June 15, 2015.

Establishes that exemption thresholds for high-rent apartments increase annually on January 1 by the same percentage as the most recent one-year renewal adjustment adopted by applicable rent guidelines boards.

Maintains exemption exclusions for housing accommodations where landlords engaged in harassing conduct to force tenant vacancies, and excludes certain properties receiving tax benefits under Real Property Tax Law sections 421-a or 489.

Requires landlords to provide written notice to first tenants of newly exempt apartments within 30 days, including the last regulated rent, calculation of charges, and contact information for the Division of Housing and Community Renewal.

Repeals Section 467-i of the Real Property Tax Law relating to real property tax abatement and takes effect immediately as of June 15, 2015.