NY A00914

Amends the Emergency Tenant Protection Act of 1974 to allow cities, towns, and villages to declare emergencies and regulate rents and evictions for buildings that previously received Mitchell-Lama program protections or federal project-based rental assistance.

Applies to buildings formerly owned by limited-profit housing companies that dissolved voluntarily and buildings that were covered projects under federal Section 8 contracts where rental assistance has expired or been terminated.

Sets initial regulated rent for newly covered accommodations at the rent paid 180 days before the law's effective date, or the most recent rent charged if the unit was vacant, adjusted by applicable guidelines increases.

Exempts newly regulated accommodations from provisions allowing preferential rents in New York City.

Takes effect immediately and applies retroactively to buildings that dissolved or lost assistance contracts on, before, or after the effective date.