NY A10623

Requires replacement of rent-stabilized housing accommodations lost or destroyed due to fire, natural disaster, act of God, act of war, or eminent domain in any succeeding construction on the same parcel.

Replacement housing must be substantially similar to the lost accommodation and remain subject to rent stabilization with maximum rent equal to the original unit's maximum rent.

Applies to housing covered under the Emergency Housing Rent Control Law, the Emergency Tenant Protection Act of 1974, and the City Rent and Rehabilitation Law.

Takes effect 90 days after becoming law, with amendments to the City Rent and Rehabilitation Law remaining in effect only during the public emergency period for rent regulation.

Amendments to the Local Emergency Housing Rent Control Act expire on the same date as that law expires under existing statute.