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NY S09154
Bill
Status
8/24/2018
Primary Sponsor
Michael Gianaris
Click for details
AI Summary
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Eliminates the major capital improvement (MCI) program, repeals all rent increases granted under it, and requires rents be reduced to pre-MCI levels for current tenants upon petition.
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Requires landlords to repay tenants any security deposit increases associated with repealed MCI rent increases within 30 days.
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Creates a guaranteed habitability protections program requiring landlords to maintain rental dwelling habitability with penalties of $10,000-$50,000 for non-life threatening issues and $100,000 per resident for life-threatening habitability violations.
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Establishes a guaranteed habitability protections tax credit allowing landlords approved by the new program to claim tax credits against state and local taxes.
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Removes references to MCI-based rent adjustments from rent control and rent stabilization laws governing emergency housing rent control, emergency tenant protection, and New York City rent regulation.
Legislative Description
Eliminates the department of homes and community renewal's major capital improvement program; creates the guaranteed habitability protections program within the department of homes and community renewal; creates a guaranteed habitability protections tax credit; eliminates rent increases to pay for major capital improvements.
Last Action
PRINT NUMBER 9154A
8/31/2018