What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- 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.
Caps the amount of collectible rent increases due to major capital improvements at six percent of the legal regulated rent
In Assembly Committee · Housing · Sponsor Shelley Mayer
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S7674
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, Section 9 of NYCRR 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.