Relates to rent control

BILL NUMBER:S5997

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 conversion 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 effectiveness thereof and to amend the real property tax law, in relation to tax exemption for new multiple dwellings

Purpose:

This bill would extend various provisions of the laws relating to rent regulations until and including June 23, 2015.

Summary of Provisions:

Section 1 of the bill would amend the Emergency Tenant Protection Action ("ETPA") chapter amendments of 1974, which include the Rent Stabilization and Rent Control Laws, to provide that such provisions remain in effect until and including June 23, 2015.

Section 2 would amend the Emergency Housing Rent Control Law relating to the control of and stabilization of rent in certain cases to provide that such provisions shall remain in effect until and including June 23, 2015.

Section 3 would amend the Emergency Housing Rent Control Law relating to re-control of rents in Albany, New York to provide that such provisions shall remain in effect until and including June 23, 2015.

Section 4 would amend certain provisions of the New York City Co-op Conversion Law in New York City to provide that such provisions shall remain in effect until and including June 23, 2015.

Section 5 would amend certain provisions of the Co-op Conversions in certain municipalities in the counties of Nassau, Westchester, and Rockland, to provide that such provisions shall remain in effect until and including June 23, 2015.

Section 6 would amend certain provisions of the Penal Law relating to harassment of tenants, increasing civil penalties under the Rent Control and Rent Stabilization Laws, and fees for administration of the Rent Stabilization Law to provide that such provisions shall remain in effect until and including June 23, 2015.

Section 7 would amend certain provisions of the real property tax law enabling the 421-a program and extend those provisions until and including June 23, 2015.

Section 8 would amend certain provisions of the real property tax law relating to construction of 421-a eligible properties and would extend those provisions until and including June 23, 2015.

Section 9 would make this act effective immediately and deemed effective as of June 15, 2015.

Existing Law:

The various provisions of laws relating to rent regulations and development of affordable housing expired at the end of June 15, 2015.

Justification:

Passage of this bill will eliminate widespread uncertainty regarding the continued sustainability of affordable housing for many New Yorkers.

Legislative History:

This is a new bill.

Budget Implications:

This bill would not have an impact on State finances.

Effective Date:

This bill would take effect immediately and would be deemed effective as of June 15, 2015.