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NY A06521
Bill
Status
3/19/2021
Primary Sponsor
Inez Dickens
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AI Summary
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Removes the provision allowing landlords to increase rent for major capital improvements (heating, windows, plumbing, roofing) under the Emergency Tenant Protection Act of 1974.
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Eliminates all rent increase adjustments that were previously permitted to amortize capital improvement costs over 12 to 12.5 year periods.
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Retains hardship application provisions allowing rent increases when operating expense ratios cannot be maintained, and alternative application provisions for building acquisitions.
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Takes effect immediately but expires on the same date as the Emergency Tenant Protection Act of 1974.
Legislative Description
Eliminates rent increases for structures due to major capital improvements in a city with a population of one million or more.
Last Action
referred to housing
1/5/2022