senate Bill S4423A

2015-2016 Legislative Session

In relation to approval of major capital improvement rent increases and extending the length of time over which major capital improvement expenses may be recovered

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Sponsored By

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


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

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Actions

view actions (4)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Mar 23, 2016 print number 4423a
Mar 23, 2016 amend and recommit to housing, construction and community development
Jan 06, 2016 referred to housing, construction and community development
Mar 19, 2015 referred to housing, construction and community development

Co-Sponsors

S4423 - Details

See Assembly Version of this Bill:
A6054
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
New York City Administrative Code
Laws Affected:
Amd §§26-405 & 26-511, NYC Ad Cd; amd §6, Emerg Ten Prot Act of 1974; amd §4, Emerg Hous Rent Cont L
Versions Introduced in 2017-2018 Legislative Session:
S4312, A1980

S4423 - Summary

Relates to approval of major capital improvement rent increases and extending the length of time over which major capital improvement expenses may be recovered.

S4423 - Sponsor Memo

S4423 - Bill Text download pdf

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

                                  4423

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             March 19, 2015
                               ___________

Introduced  by  Sen. KRUEGER -- 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, the
  emergency tenant protection act of nineteen seventy-four and the emer-
  gency housing rent control law in relation to approval of major  capi-
  tal improvement rent increases and in relation to extending the length
  of time over which major capital improvement expenses may be recovered

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

  Section 1. Subparagraph (g) of paragraph 1 of subdivision g of section
26-405 of the administrative code of the city of New York, as amended by
chapter 749 of the laws of 1990, is amended to read as follows:
  (g) (I) COLLECTION OF SURCHARGES TO THE MAXIMUM RENT AUTHORIZED PURSU-
ANT TO ITEM (II) OF THIS SUBPARAGRAPH SHALL CEASE  WHEN  THE  OWNER  HAS
RECOVERED THE COST OF THE MAJOR CAPITAL IMPROVEMENT;
  (II)  There  has  been  since  July first, nineteen hundred seventy, a
major capital improvement [required for the operation,  preservation  or
maintenance  of the structure. An adjustment under this subparagraph (g)
shall be in an amount sufficient to amortize the cost  of  the  improve-
ments  pursuant  to  this  subparagraph  (g)  over a seven-year period];
PROVIDED THAT THE COMMISSIONER FIRST FINDS THAT  SUCH  IMPROVEMENTS  ARE
DEEMED DEPRECIABLE UNDER THE INTERNAL REVENUE CODE AND SUCH IMPROVEMENTS
ARE  REQUIRED FOR THE OPERATION OR PRESERVATION OF THE STRUCTURE. HOWEV-
ER, NO MAJOR CAPITAL IMPROVEMENT RENT INCREASE WILL BE APPROVED  BY  THE
DIVISION  OF  HOUSING AND COMMUNITY RENEWAL UNLESS THE WORK PERFORMED IS
AN ENHANCEMENT OR UPGRADE TO A HOUSING ACCOMMODATION OR SERVICE THEREIN;
OR IS AN ADDITION TO SUCH HOUSING ACCOMMODATION AND  OTHERWISE  ELIGIBLE
ACCORDING  TO  THE  PREREQUISITES  FOR  MAJOR  CAPITAL  IMPROVEMENT RENT
INCREASES. ANY REPAIR OR REPLACEMENT INTENDED TO  MAINTAIN  AN  EXISTING
SERVICE  SHALL  NOT  BE  ELIGIBLE  FOR  A MAJOR CAPITAL IMPROVEMENT RENT

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09355-01-5

Co-Sponsors

S4423A (ACTIVE) - Details

See Assembly Version of this Bill:
A6054
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
New York City Administrative Code
Laws Affected:
Amd §§26-405 & 26-511, NYC Ad Cd; amd §6, Emerg Ten Prot Act of 1974; amd §4, Emerg Hous Rent Cont L
Versions Introduced in 2017-2018 Legislative Session:
S4312, A1980

S4423A (ACTIVE) - Summary

Relates to approval of major capital improvement rent increases and extending the length of time over which major capital improvement expenses may be recovered.

S4423A (ACTIVE) - Sponsor Memo

S4423A (ACTIVE) - Bill Text download pdf

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

                                 4423--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                             March 19, 2015
                               ___________

Introduced  by Sens. KRUEGER, HOYLMAN -- read twice and ordered printed,
  and when  printed  to  be  committed  to  the  Committee  on  Housing,
  Construction and Community Development -- recommitted to the Committee
  on  Housing, Construction and Community Development in accordance with
  Senate Rule 6, sec. 8 -- committee discharged, bill  amended,  ordered
  reprinted as amended and recommitted to said committee

AN  ACT  to  amend  the administrative code of the city of New York, the
  emergency tenant protection act of nineteen seventy-four and the emer-
  gency housing rent control law in relation to approval of major  capi-
  tal improvement rent increases and in relation to extending the length
  of time over which major capital improvement expenses may be recovered

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

  Section 1. Subparagraph (g) of paragraph 1 of subdivision g of section
26-405 of the administrative code of the city of New York, as amended by
section 31 of part A of chapter 20 of the laws of 2015,  is  amended  to
read as follows:
  (g) (I) COLLECTION OF SURCHARGES TO THE MAXIMUM RENT AUTHORIZED PURSU-
ANT  TO  ITEM  (II)  OF THIS SUBPARAGRAPH SHALL CEASE WHEN THE OWNER HAS
RECOVERED THE COST OF THE MAJOR CAPITAL IMPROVEMENT;
  (II) There has been since July  first,  nineteen  hundred  seventy,  a
major  capital  improvement [required for the operation, preservation or
maintenance of the structure. An adjustment under this subparagraph  (g)
for any order of the commissioner issued after the effective date of the
rent  act  of 2015 shall be in an amount sufficient to amortize the cost
of the improvements pursuant to this subparagraph (g) over an eight-year
period for buildings with thirty-five or fewer  units  or  a  nine  year
period  for  buildings  with more than thiry-five units,]; PROVIDED THAT
THE COMMISSIONER FIRST FINDS THAT SUCH IMPROVEMENTS ARE DEEMED DEPRECIA-
BLE UNDER THE INTERNAL REVENUE CODE AND SUCH IMPROVEMENTS  ARE  REQUIRED
FOR  THE  OPERATION  OR PRESERVATION OF THE STRUCTURE. HOWEVER, NO MAJOR

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD09355-02-6

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