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History
- Referred to housing, construction and community development
- Referred to housing, construction and community development
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Relates to the establishment of rent adjustments
In Assembly Committee · Housing · Sponsor Linda Rosenthal
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S1815
Title of bill
An act to amend the administrative code of the city of New York and the emergency housing rent control law, in relation to the establishment of rent adjustments
Purpose
This bill would bring the formula for calculating rents in rent-controlled apartments in line with that used to calculate rents in rent-stabilized apartments. It would require the Department of Housing and Community Renewal to use the same formula in determining rent increases for rent-controlled apartments that the Rent Guidelines Board uses to determine rent increases for rent-stabilized apartments.
Summary of provisions
Section 1 amends subdivision a of section 26-405 of the administrative code of the city of New York by adding a paragraph that establishes annual rates of rent adjustment for New York City housing accommodations subject to rent control.
The new paragraph establishes the maximum rent collectible from the tenant as the maximum rent collectible on December 31st, 2009. It also establishes that maximum rates of rent adjustment shall not be established more than once annually for any housing accommodation subject to rent control.
It establishes that not later than October 1st, 2009, and not later than October 1st annually thereafter, the rent board shall file with the city clerk and the division of housing and community renewal its findings established in consideration of the economic factors listed in subdivision b of section 26-510 of this title, and shall accompany such findings with a statement of the maximum rate or rates of rent adjustment authorized for the adjustment of the maximum rent of the housing accommodation for the twelve-month period beginning on January 1st, 2010, and for each succeeding twelve-month period thereafter.
Section 2 amends section 4 of chapter 274 of the laws of 1946 by adding a new subdivision that adjusts rent increases for the housing accommodations of Westchester and Nassau counties subject to rent control.
Section 3 provides that this act shall take effect immediately.
Justification
Rent-controlled tenants are currently subject to steep rent increases calculated using an abstruse formula with little relevance in today's housing market. Rent increases in rent-stabilized apartments are set by the Rent Guidelines Boards (one in New York City and one each in Nassau, Westchester, and Rockland counties) using a formula that takes into account a wide range of economic factors. Rent-controlled apartments, on the other hand, are subject to the Maximum Base Rent
Program, which establishes maximum base rents for rent-controlled apartments according to an arcane formula that does not take the same factors into account. Owners of rent-controlled apartments are entitled to automatically raise rents up to 7.5 percent each year; this bill would do away with these unfair and arbitrary automatic increases by making rent-controlled apartments subject to the same formula for calculating rent increases to which rent-stabilized apartments are subject and requiring greater scrutiny of proposed increases for rent-controlled apartments.
Legislative history
A.7150 of 2009-2010
Fiscal implications
To be determined.
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.