NY S00076

Adds new violation to Real Property Law § 235-i making it illegal for landlords to willfully include misleading or incorrect information in rent decontrol notices, punishable by a $1,000 fine.

Requires landlords to include notices in at least 12-point type in leases and renewals informing tenants when units will become subject to rent decontrol upon expiration of tax benefit periods under the Affordable New York Housing Program.

Prohibits the decontrol notice requirement if a unit will remain subject to rent regulation or rent control under an additional tax exemption or rent stabilization program after the tax benefit period expires.

Prohibits landlords and their agents from including incorrect or misleading information in any rent decontrol notice provided to tenants.

Takes effect 60 days after enactment and applies to all leases entered into, renewed, or extended on or after the effective date.