|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 04, 2012||referred to housing, construction and community development|
|Jan 06, 2011||referred to housing, construction and community development|
senate Bill S1289
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S1289 - Details
- Current Committee:
- Law Section:
- New York City Administrative Code
- Laws Affected:
- Amd §26-405, NYC Ad Cd
- Versions Introduced in 2009-2010 Legislative Session:
S1289 - Summary
Relates to assessed valuation of property for purposes of adjustment of maximum rents.
S1289 - Sponsor Memo
BILL NUMBER:S1289 TITLE OF BILL: An act to amend the administrative code of the city of New York, in relation to assessed valuation of property for purposes of adjustment of maximum rents PURPOSE: Clarifies the provision of the rent control law under which owners are entitled to "hardship" rent increases. SUMMARY OF PROVISIONS: Section One amends clause 1 of subparagraph (a) of paragraph 1 of subdivision g of section 26405 of the administrative code of the city of New York to state valuation shall be current equalized assessed valuation established by the city based upon the appropriate tax class ratio which is established pursuant to article twelve of the real property tax law. Section Two provides that the provisions outlined in section One of the legislation shall.be deemed to have been in full force and effect on or after September 30, 1997, and shall apply to any proceeding pending on the effective date of this act, or determined thereafter. Section Three is the effective date.
S1289 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1289 2011-2012 Regular Sessions I N S E N A T E January 6, 2011 ___________ Introduced by Sen. DUANE -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the administrative code of the city of New York, in relation to assessed valuation of property for purposes of adjustment of maximum rents THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The opening paragraph of clause 1 of subparagraph (a) of paragraph 1 of subdivision g of section 26-405 of the administrative code of the city of New York is amended to read as follows: Such valuation shall be the current EQUALIZED assessed valuation established by the city BASED UPON THE APPROPRIATE TAX CLASS RATIO WHICH IS ESTABLISHED PURSUANT TO ARTICLE TWELVE OF THE REAL PROPERTY TAX LAW, which is in effect at the time of the filing of the application for an adjustment under this subparagraph [(a)]; provided that: S 2. The provisions of section one of this act shall be deemed to have been in full force and effect on and after September 30, 1997, and shall apply to any proceeding pending on the effective date of this act or determined thereafter. S 3. This act shall take effect immediately; provided that the amend- ments to section 26-405 of the city rent and rehabilitation law made by section one of this act shall remain in full force and effect only as long as the public emergency requiring the regulation and control of residential rents and evictions continues, as provided in subdivision 3 of section 1 of the local emergency housing rent control act. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01151-01-1
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