senate Bill S1024

2013-2014 Legislative Session

Limits the amount of rent increase after the vacancy of a housing accommodation

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Sponsored By

Archive: Last Bill Status -


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2014 referred to housing, construction and community development
Jan 09, 2013 referred to housing, construction and community development

Co-Sponsors

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S1024 - Details

Law Section:
New York City Administrative Code
Laws Affected:
Amd §26-511, NYC Ad Cd; amd §10, Emerg Ten Prot Act of 1974
Versions Introduced in Previous Legislative Sessions:
2011-2012: S2341
2009-2010: S6084

S1024 - Summary

Limits the amount of rent increase after the vacancy of a housing accommodation.

S1024 - Sponsor Memo

S1024 - Bill Text download pdf

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

                                  1024

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sens. SERRANO, AVELLA, PERALTA -- 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 and  the
  emergency  tenant protection act of nineteen seventy-four, in relation
  to limiting rent increase after vacancy of a housing accommodation

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

  Section  1.  Paragraph  5-a  of subdivision c of section 26-511 of the
administrative code of the city of New York, as amended by section 7  of
part B of chapter 97 of the laws of 2011, is amended to read as follows:
  (5-a)  provides  that,  notwithstanding any provision of this chapter,
the legal regulated rent for any vacancy lease entered  into  after  the
effective  date  of  this  paragraph shall be as hereinafter provided in
this paragraph. The previous  legal  regulated  rent  for  such  housing
accommodation  shall  be  increased by the following: (i) if the vacancy
lease is for a term of two years, [twenty] TEN percent of  the  previous
legal  regulated rent; or (ii) if the vacancy lease is for a term of one
year the increase shall be [twenty] TEN percent of  the  previous  legal
regulated  rent  less  an amount equal to the difference between (a) the
two year renewal lease guideline promulgated by the guidelines board  of
the  city  of  New York applied to the previous legal regulated rent and
(b) the one year renewal lease guideline promulgated by  the  guidelines
board  of  the  city of New York applied to the previous legal regulated
rent. In addition, if the legal regulated rent was  not  increased  with
respect  to  such housing accommodation by a permanent vacancy allowance
within eight years prior to a vacancy lease executed  on  or  after  the
effective  date  of  this  paragraph,  the  legal  regulated rent may be
further increased by an amount  equal  to  the  product  resulting  from
multiplying  such  previous  legal  regulated  rent by six-tenths of one

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

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