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S7038Senate2013-2014 Session

Caps the amount of collectible rent increases due to major capital improvements at six percent of the legal regulated rent

Sponsor Adriano EspaillatSD-31Affects Housing
Status
In Senate Committee
Housing, Construction And Community Development
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Housing, Construction And Community Development

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Who cares

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Sponsors

Primary sponsor
Adriano Espaillat

Senator · Senate District 31

No co-sponsors yet.

History

  1. Referred to housing, construction and community development

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S7038

Title of bill

An act to amend chapter 576 of the laws of 1974 constituting the emergency tenant protection act, in relation to capping the amount of collectible rent increases due to major capital improvements at six percent of the legal regulated rent

Purpose

This bill creates consistency between New York City and the ETPA counties (Westchester, Rockland, and Nassau).

Summary of provisions

Section 1 amends paragraph 3 of subdivision d of section 6 of section 4 of chapter 576 of the laws of 1974, the emergency tenant protection act of 1974, as amended by chapter 749 of the laws of 1990, to ensure the collectible increase in rent to amortize the cost of the major capital improvement shall not exceed six percent of the legal regulated rent registered pursuant to section twelve-a of this act.

Section 2 establishes the effective date.

Justification

This bill creates consistency between rent stabilized apartments in New York City and the other ETPA counties, Nassau, Rockland and Westchester. Currently, (9 NYCRR is this included?)§ 2522.4 of the law limits MCI increases in New York City to a maximum of six percent of the base rent. Because the law is silent, DHCR has administratively capped the MCI increase outside of New York City at fifteen percent. This bill corrects this oversight and establishes a fair and consistent level for all rent stabilized apartments.

Legislative history

None

Fiscal implications

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.