NY A00422

Removes real estate taxes, sewer and water rates, and gross operating maintenance costs (including insurance, fees, fuel, and labor) from the factors the Rent Guidelines Board must consider when determining rent adjustments in New York City.

Retains financing costs and availability, overall housing supply, and vacancy rates as economic factors the board shall consider when setting rent guidelines.

Applies the same changes to county rent guidelines boards operating under the Emergency Tenant Protection Act of 1974 for areas where housing emergencies have been declared.

Maintains existing prohibitions on establishing rent adjustment guidelines based on current rental cost of a unit or time elapsed since a previous rent increase authorization.