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NY A00887
Bill
Status
1/8/2025
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Sets the initial legal regulated rent for former Mitchell-Lama housing units after dissolution or reconstitution to the last rent authorized before the dissolution date, including any rental surcharges
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Applies to limited-profit housing companies in cities with populations of one million or more (New York City)
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Prohibits rent adjustments that would otherwise allow landlords to set higher initial rents when units transition to rent stabilization
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Covers developments that move from Mitchell-Lama to either the Rent Stabilization Law of 1969 or the Emergency Tenant Protection Act of 1974
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Takes effect immediately upon passage
Legislative Description
Provides that in cities with a population of one million or more, the rent following the dissolution date of Mitchell-Lama developments shall be the last rent authorized for the affected dwelling.
Last Action
referred to housing
1/7/2026