Senate Bill S7674

2013-2014 Legislative Session

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

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-S7674 (ACTIVE) - Details

See Assembly Version of this Bill:
A9785
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Emergency Tenant Protection Act of 1974
Laws Affected:
Amd §6, Emerg Ten Prot Act of 1974
Versions Introduced in Other Legislative Sessions:
2015-2016: S3588, A1880
2017-2018: S4568, A2239
2019-2020: S2203
2021-2022: S3365
2023-2024: S1235

2013-S7674 (ACTIVE) - Summary

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

2013-S7674 (ACTIVE) - Sponsor Memo

2013-S7674 (ACTIVE) - Bill Text download pdf 

                            
                    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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