NY A07993

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

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

Applies amendments to three separate rent control laws: the Emergency Housing Rent Control Law, the Emergency Tenant Protection Act of 1974, and the Administrative Code provisions governing rent stabilization.

Takes effect 90 days after becoming law, with provisions for the Administrative Code amendments to expire when the local emergency housing rent control law expires under section 26-520.