NY A09691

Requires tenants in buildings with submetered utilities to receive a rent reduction equal to the utility costs they are responsible for, where those costs were previously included in their rent.

Directs the Division of Housing and Community renewal to review standard and actual rent reductions for submetered properties within 90 days of the law's effective date.

Authorizes the Division to require increases to rent reductions where determined necessary based on the review.

Requires the Division to develop an appeals process allowing tenants to challenge their rent reduction if it does not accurately reflect their submetered utility costs.

Takes effect immediately upon enactment.