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History
- Referred to housing, construction and community development
- Referred to housing, construction and community development
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S2744
Title of bill
An act to amend chapter 576 of the laws of 1974 amending the emergency housing rent control law relating to the control of and stabilization of rent in certain cases, the emergency housing rent control law, chapter 329 of the laws of 1963 amending the emergency housing rent control law relating to recontrol of rents in Albany, chapter 555 of the laws of 1982 amending the general business law and the administrative code of the city of New York relating to conversion of residential property to cooperative or condominium ownership in the city of New York, chapter 402 of the laws of 1983 amending the general business law relating to conversions of rental residential property to cooperative or condominium ownership in certain municipalities in the counties of Nassau, Westchester and Rockland and the rent regulation reform act of 1997, in relation to extending the period of effectiveness thereof
Purpose
This bill would extend the period during which provisions of various laws that regulate rental housing will remain in force. These laws are currently scheduled to expire on June 15, 2011; under this bill they would expire on June 15, 2014.
Read the full memo (618 words)
Summary of provisions
Section 1 of the bill amends section 17 of chapter 576 of the laws of 1974, as amended by chapter 82 of the laws of 2003, to extend the period certain provisions of law will remain in force to June IS, 2014.
Section 2 of the bill amends subdivision 2 of section 1 of chapter 274 of the laws of 1946, as amended by chapter 82 of the laws of 2003, to extend the period certain provisions of law will remain in force to June IS, 2014.
Section 3 of the bill amends section 2 of chapter 329 of the laws of 1963, as amended by chapter 82 of the laws of 2003, to extend the period certain provisions of law will remain in force to June IS, 2014.
Section 4 of the bill amends section 10 of chapter 555 of the laws of 1982, as amended by chapter 82 of the laws of 2003, to extend the period certain provisions of law will remain in force to June IS, 2014.
Section 5 of the bill amends section 4 of chapter 402 of the laws of 1983, as amended by chapter 82 of the laws of 2003, to extend the period certain provisions of law will remain in force to June 15, 2014.
Section 6 of the bill amends subdivision 6 of section 46 of chapter 116 of the laws of 1997, as amended by chapter 82 of the laws of 2003, to extend the period certain provisions of law will remain in force to June 15, 2014.
Section 7 of the bill sets forth its effective date.
Justification
The rental housing markets in areas subject to the various laws that regulate rental housing remain extremely competitive, and are projected to remain so into the foreseeable future. For example, according to a report recently issued by the real estate research company Reis, Inc., the vacancy rate of apartments in New York City was less than three percent in 2009, while the U.S. Census Bureau Current Estimates Program has determined that the population of the City continues to grow. These conditions encourage price inflation in the rental housing market and weaken tenants' bargaining positions relative to their landlords.
Meanwhile, key provisions of the law regulating rent and other aspects of the rental housing market are set to expire on June 15, 2011. This bill extends those expiration dates to June 15, 2014.
Legislative history
2009/2010-Senate and Assembly referred to housing.
Fiscal impact
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.