What's happening
This bill sets initial rents for certain dissolved limited-profit housing developments in New York City and limits future rent adjustments.
Why it matters
Prevents sudden rent hikes for tenants. By setting the initial rent for dissolved limited-profit housing developments at the last legally authorized rent (including surcharges), the bill shields tenants from immediate and potentially steep rent increases when these buildings transition out of limited-profit status.
Limits future rent increases. The bill specifically prohibits landlords from using certain mechanisms under New York’s rent stabilization laws (like hardship or alternative rent adjustment provisions) to raise rents above this set level, providing ongoing rent stability for affected tenants.
Targets a vulnerable housing sector. This legislation focuses on developments that were part of state-supported limited-profit programs, which often house low- and moderate-income residents. Its protections aim to prevent displacement and preserve affordable housing options when these developments dissolve or change management.
Creates a clear legal standard. By defining how rents are set and adjusted after dissolution, the bill reduces ambiguity and legal disputes between landlords and tenants during a potentially disruptive transition period.
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Who cares
Headline styles
Freeze Post-Dissolution Rents
Plain English, a few words. Used as the page title.
Sponsors
8 Co-sponsors
History
- Referred to housing
- Referred to housing
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
957
2019-2020 Regular Sessions
IN ASSEMBLY
January 14, 2019
Introduced by M. of A. L. ROSENTHAL, BENEDETTO, COOK, DINOWITZ, TITUS, CYMBROWITZ, COLTON, MOSLEY, BARRON -- Multi-Sponsored by -- M. of A. GLICK, GOTTFRIED, HEVESI, PERRY, RIVERA -- read once and referred to the Committee on Housing
AN ACT to amend the private housing finance law, in relation to limited profit housing companies in a city with a population of one million or more
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The private housing finance law is amended by adding a new section 35-a to read as follows:
§ 35-a. Rent following dissolution. 1. As used in this section, the following terms shall have the following meanings:
(a) "Affected development" shall mean housing accommodations that (i) prior to the dissolution date were operated as a rental development pursuant to this article; and (ii) following the dissolution date are subject to the rent stabilization law of nineteen hundred sixty-nine or the emergency tenant protection act of nineteen seventy-four.
(b) "Affected dwelling unit" shall mean a housing unit in an affected development.
(c) "Affected housing company" shall mean a limited-profit housing company with an affected development.
(d) "Dissolution date" shall mean, with respect to any affected development, the date of dissolution or reconstitution of the affected housing company with such affected development pursuant to section thirtyfive of this article.
2. Notwithstanding the provisions of any general, special or local law: (a) the initial legal regulated rent for any affected dwelling unit on and after the dissolution date shall be the last rent authorized for the affected dwelling unit before the dissolution date, including rental surcharges, if any, and (b) such legal regulated rent shall not
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD03132-01-9
A. 957 2
at any time be subject to adjustment pursuant to subdivision a of section 26-513 of the administrative code of the city of New York, or subdivision a of section nine of the emergency tenant protection act of nineteen seventy-four.
§ 2. This act shall take effect immediately.
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.