senate Bill S1805

2013-2014 Legislative Session

Requires the rent guidelines board to take other sources of income received by landlords from commercial rents and unregulated residential units into account

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Archive: Last Bill Status - In Committee


  • 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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S1805 - Bill Details

See Assembly Version of this Bill:
A745
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
New York City Administrative Code
Laws Affected:
Amd ยง26-510, NYC Ad Cd
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3119, A1464
2009-2010: A5450

S1805 - Bill Texts

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Requires the rent guidelines board to take other sources of income received by landlords from commercial rents and unregulated residential units into account when establishing annual calculations.

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BILL NUMBER:S1805

TITLE OF BILL:
An act
to amend the administrative code of the city of New York, in relation to
requiring the rent guidelines board to take other sources of income
received by landlords from commercial rents and unregulated residential
units into account when establishing annual calculations

PURPOSE OR GENERAL IDEA OF BILL:
This bill would require the rent guidelines board to consider landlord
profits in addition to landlord costs when determining annual
guidelines for rent adjustments.

SUMMARY OF SPECIFIC PROVISIONS:
This bill amends section 26-510 of the administrative code of the city
of New York.

JUSTIFICATION:
The New York City Rent Guidelines Board (RGB) is mandated to establish
rent adjustments for the nearly one million dwelling units subject to
the Rent Stabilization Law in New York City. To determine the
adjustment, the RGB holds a series of public meetings to hear
testimony from owners and tenants, but under the current law the
Board is instructed only to consider factors that contribute to
landlord costs, not their overall profit. To determine landlord
costs, the RGB depends on statements from property owners such as the
Real Property Income and Expense (RPIE) statements, but an audit of
RPIE statements collected from rent-stabilized buildings revealed
that on average, operation and maintenance costs were exaggerated by
8%.

This bill would put tenants and landlords on equal footing before the
law by requiring the RGB to also consider all sources of income,
including rents from unregulated residential tenants and commercial
units. Middle and low income citizens who depend on rent-stabilized
apartments are being priced out of New York City as the RGB raises
rents each year based on exaggerated cost reports from landlords. The
RGB needs a more balanced picture of what is actually happening in
the rental market in order to make fair determinations about rent
adjustments.

PRIOR LEGISLATIVE HISTORY:
A.7240 of 2007-08
A.5450 of 2009-10

FISCAL IMPLICATIONS: Undetermined.

EFFECTIVE DATE:
Immediate upon passage, with provisions.

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

                                  1805

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by  Sens.  ESPAILLAT,  HASSELL-THOMPSON, KRUEGER, PERKINS --
  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 requiring the rent guidelines board to take other  sources
  of  income received by landlords from commercial rents and unregulated
  residential units into account when establishing annual calculations

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

  Section  1.  Paragraph  3  of  subdivision  b of section 26-510 of the
administrative code of the city of New York is  renumbered  paragraph  4
and a new paragraph 3 is added to read as follows:
  (3)  ALL  OTHER  SOURCES  OF  INCOME FROM BUILDINGS CONTAINING HOUSING
ACCOMMODATIONS SUBJECT TO  THIS  LAW  INCLUDING,  BUT  NOT  LIMITED  TO,
COMMERCIAL  RENTS  AND  RENT FROM UNREGULATED RESIDENTIAL UNITS, AND THE
EXTENT TO WHICH SUCH CHANGES OFFSET CHANGES IN COST,
  S 2. This act shall take effect immediately, provided,  however,  that
the  amendments to section 26-510 of chapter 4 of title 26 of the admin-
istrative code of the city of New York made by section one of  this  act
shall  expire  on the same date as such law expires and shall not affect
the expiration of such law as provided under section 26-520 of such law.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02142-01-3

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