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NY A01746
Bill
Status
1/20/2023
Primary Sponsor
Jeffrey Dinowitz
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AI Summary
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Removes the exemption from rent control and rent stabilization laws for properties receiving participation loans under the private housing finance law.
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Requires adjusted rents in rehabilitated buildings previously subject to emergency housing rent control, local rent control, or the 1969 rent stabilization law to be established pursuant to those same provisions.
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Maintains that dwelling units in properties where New York City or the NYC Housing Development Corporation invested in the participation loan remain subject to the 1969 rent stabilization law.
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Allows occupants in possession when a building becomes subject to rent stabilization to receive a two-year lease at the initial agency-set rent, notwithstanding other rent stabilization law provisions.
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Takes effect immediately upon enactment.
Legislative Description
Relates to certain adjusted rents under the participation loan program; provides that rehabilitated rent control and rent stabilized units shall have adjusted rents determined in accordance with such programs.
Last Action
referred to housing
1/3/2024