S T A T E   O F   N E W   Y O R K
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                                 1880--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            January 13, 2015
                               ___________

Introduced  by  M.  of  A.  MAYER,  WRIGHT, ABINANTI, GOTTFRIED, HOOPER,
  JAFFEE, KAVANAGH, MOSLEY, O'DONNELL, PRETLOW, RIVERA, ROZIC,  SOLAGES,
  ARROYO,  PICHARDO  -- Multi-Sponsored by -- M. of A. BUCHWALD, DAVILA,
  MARKEY, SIMON -- read once and referred to the Committee on Housing --
  recommitted to the Committee on Housing in  accordance  with  Assembly
  Rule  3,  sec.  2  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the emergency tenant protection act of  nineteen  seven-
  ty-four,  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  section  30  of
part A of chapter 20 of the laws of 2015, 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 an eight-year period for a building with
thirty-five or fewer housing accommodations, or a nine-year period for a
building  with  more  than  thirty-five  housing accommodations, for any
determination issued by the division of housing  and  community  renewal
after  the  effective  date  of  the rent act of 2015; PROVIDED THAT THE
COLLECTION OF ANY INCREASE IN THE LEGAL REGULATED RENT FOR  ANY  HOUSING
ACCOMMODATION PURSUANT TO THIS PARAGRAPH SHALL NOT EXCEED SIX PERCENT IN
ANY YEAR FROM THE EFFECTIVE DATE OF THE ORDER GRANTING THE INCREASE OVER
THE LEGAL REGULATED RENT REGISTERED PURSUANT TO SECTION TWELVE-A OF THIS
ACT,  WITH  COLLECTIBILITY  OF  ANY  DOLLAR  EXCESS ABOVE SAID SUM TO BE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00299-07-6
              

A. 1880--A                          2

SPREAD FORWARD IN SIMILAR INCREMENTS AND ADDED TO  THE  LEGAL  REGULATED
RENT  AS ESTABLISHED OR SET IN FUTURE YEARS. IN NO EVENT SHALL MORE THAN
ONE SIX PERCENT INCREASE IN THE LEGAL REGULATED RENT  PURSUANT  TO  THIS
PARAGRAPH BE COLLECTED IN THE SAME YEAR, 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.