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NY A01506
Bill
Status
1/10/2025
Primary Sponsor
Linda Rosenthal
Click for details
AI Summary
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Requires limited liability companies (LLCs) that own rent-regulated housing to disclose all beneficial owners and their ownership percentages when filing rent registration statements with the Division of Housing and Community Renewal
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Defines "beneficial owner" as any individual who directly or indirectly owns equity interest in the entity or has practical control over the entity's funds, assets, management, or direction
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Amends both the Emergency Tenant Protection Act of 1974 and the New York City Administrative Code to impose identical disclosure requirements
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Applies to housing accommodations subject to rent stabilization in New York City and other municipalities covered by the Emergency Tenant Protection Act
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Takes effect immediately, with New York City provisions set to expire on the same date as the underlying rent stabilization law
Legislative Description
Requires that any limited liability company who files a rent registration statement shall include a list of all members of such limited liability company and each member's ownership interest.
Last Action
ordered to third reading cal.57
1/7/2026