What's happening
This bill requires that rents for rehabilitated buildings previously under rent control or stabilization be set according to those regulations.
Why it matters
Protects Rent Regulation Continuity. By requiring rehabilitated buildings that were previously rent-controlled or rent-stabilized to maintain these protections, the bill ensures tenants do not lose regulatory safeguards simply because of renovations or upgrades.
Limits Rent Increases Post-Rehabilitation. The new language prevents landlords from resetting rents to market rates after rehabilitation, helping to prevent displacement of existing residents and preserving affordability in regulated units.
Closes Loopholes in Participation Loan Program. The amendment addresses a potential gap where buildings improved with public aid (like participation loans) might otherwise escape rent regulation, ensuring public investment doesn’t inadvertently contribute to deregulation.
Stabilizes Long-Term Housing Security. By tying post-rehabilitation rents to pre-existing regulations, the bill supports broader efforts to maintain a stable, affordable housing stock in New York, especially in high-demand urban areas.
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Keep Rents Controlled After Rehab
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History
- Referred to housing
- Referred to housing
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
6963
2017-2018 Regular Sessions
IN ASSEMBLY
March 28, 2017
Introduced by M. of A. DINOWITZ -- read once and referred to the Committee on Housing
AN ACT to amend the private housing finance law, in relation to adjusted rents under the participation loan program
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 804 of the private housing finance law, as amended by chapter 456 of the laws of 2003, is amended to read as follows:
§ 804. Rentals. [Notwithstanding the provisions of, or any regulation promulgated pursuant to, the emergency housing rent control law, the local emergency housing rent control act or local law enacted pursuant thereto, upon] Upon completion of the rehabilitation of an existing multiple dwelling, the construction of a new multiple dwelling or the conversion of non-residential property into a multiple dwelling aided by a participation loan made pursuant to this article, the agency shall establish the initial rent for each dwelling unit within the rehabilitated, newly constructed or converted multiple dwelling; provided that upon the rehabilitation of an existing multiple dwelling which was subject to the provisions of, or any regulation promulgated pursuant to, the emergency housing rent control law, the local emergency housing rent control act, the rent stabilization law of nineteen hundred sixty-nine or any local law enacted pursuant thereto, the adjusted rent shall be established pursuant to such provisions. Where the city of New York or the New York city housing development corporation has participated or invested in a loan pursuant to this article, all dwelling units within the multiple dwelling subsequent to the establishment of initial rents by the agency shall be subject to the rent stabilization law of nineteen hundred sixty-nine provided, that the occupant in possession of a dwelling unit when the multiple dwelling is made subject to the rent stabilization law of nineteen hundred sixty-nine shall be offered a two year lease notwithstanding any contrary provisions of, or regulations adopted pursuant to, the rent stabilization law of nineteen hundred sixty-nine at such initial rent set for such dwelling unit by the agency.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10710-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.