NY A03203

Allows cities, towns, and villages to declare a housing emergency and extend rent stabilization protections to buildings that exit the Mitchell-Lama affordable housing program or lose federal project-based Section 8 rental assistance contracts

Sets the initial legal regulated rent at the amount charged to and paid by the tenant 180 days before the law's effective date, including any income-related surcharges, adjusted by applicable guidelines increases

Applies retroactively to housing accommodations in buildings where housing companies dissolved or Section 8 contracts expired either before or after the law takes effect

Exempts these newly covered units from certain high-rent deregulation provisions under the Emergency Tenant Protection Act and NYC Administrative Code

Authorizes New York City to amend its rent stabilization law to regulate rents and evictions for housing accommodations brought under protection by this act