senate Bill S7674

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

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Sponsor

Bill Status


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor
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actions

  • 27 / May / 2014
    • REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Summary

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

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Bill Details

See Assembly Version of this Bill:
A9785
Versions:
S7674
Legislative Cycle:
2013-2014
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Emergency Tenant Protection Act of 1974
Laws Affected:
Amd ยง6, Emerg Ten Prot Act of 1974

Sponsor 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.

view bill text
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7674

                            I N  S E N A T E

                              May 27, 2014
                               ___________

Introduced by Sen. ESPAILLAT -- read twice and ordered printed, and when
  printed  to be committed to the Committee on Housing, Construction and
  Community Development

AN ACT to amend chapter 576 of the laws of 1974 constituting  the  emer-
  gency  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

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Paragraph 3 of subdivision d of section 6 of section  4  of
chapter  576  of  the  laws  of  1974, constituting the emergency tenant
protection act of nineteen seventy-four, as amended by  chapter  749  of
the laws of 1990, is amended to read as follows:
  (3)  there has been since January first, nineteen hundred seventy-four
a major capital improvement required for the operation, preservation  or
maintenance  of  the structure. An adjustment under this paragraph shall
be in an amount sufficient to amortize  the  cost  of  the  improvements
pursuant  to  this paragraph over a seven-year period; PROVIDED THAT THE
COLLECTIBLE INCREASE IN RENT ATTRIBUTABLE TO AN  ADJUSTMENT  UNDER  THIS
PARAGRAPH  SHALL  NOT  EXCEED  SIX  PERCENT  OF THE LEGAL REGULATED RENT
REGISTERED PURSUANT TO SECTION TWELVE-A OF THIS ACT, or
  S 2. This act shall take effect immediately; provided,  however,  that
the  amendment  to  section  4 of the emergency tenant protection act of
nineteen seventy-four made by section one of this act  shall  expire  on
the same date as such act expires and shall not affect the expiration of
such  act  as provided in section 17 of chapter 576 of the laws of 1974,
as amended.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13366-02-4

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