NY A01622

Prohibits owners of rent-regulated housing from leasing vacant units to tenants who will not occupy the unit as their primary residence, or to corporations, partnerships, and other business or not-for-profit entities

Creates exceptions for not-for-profit corporations solely engaged in providing housing and support services to low-income or vulnerable populations, as determined by the Division of Housing and Community Renewal commissioner

Allows leasing to businesses when the unit will be occupied as a primary residence by an officer, partner, employee, or other person participating in the business's day-to-day operations

Establishes civil penalties of $1,000-$2,000 for first violations and $2,000-$3,000 for subsequent violations, imposed through administrative hearings

Takes effect 60 days after becoming law and applies to housing subject to both the Emergency Tenant Protection Act of 1974 and New York City's rent stabilization law