S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1135
 
                        2017-2018 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 10, 2017
                                ___________
 
 Introduced by M. of A. DINOWITZ, ROSENTHAL, COLTON -- Multi-Sponsored by
   -- M. of A.  GLICK, GOTTFRIED -- read once and referred to the Commit-
   tee on Housing
 
 AN  ACT  to amend the emergency tenant protection act of nineteen seven-
   ty-four and the administrative code  of  the  city  of  New  York,  in
   relation to the rent guidelines board

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision b of section 4 of section 4 of chapter  576  of
 the  laws  of  1974, constituting the emergency tenant protection act of
 nineteen seventy-four, as amended by chapter 486 of the  laws  of  1976,
 the  opening paragraph as amended by chapter 403 of the laws of 1983 and
 the second and third undesignated paragraphs as amended by  chapter  330
 of the laws of 1980, is amended to read as follows:
   b.  A county rent guidelines board shall establish annually guidelines
 for rent adjustments which, at its sole discretion  may  be  varied  and
 different  for  and  within  the  several zones and jurisdictions of the
 board, and in determining whether rents for housing accommodations as to
 which an emergency has been declared  pursuant  to  this  act  shall  be
 adjusted,  shall  consider among other things (1) the economic condition
 of the residential real estate industry in the affected  area  including
 such  factors  as the prevailing and projected (i) real estate taxes and
 sewer and water rates, (ii) gross operating maintenance costs (including
 insurance rates, governmental fees, cost of fuel and labor costs), (iii)
 costs and availability of financing (including effective rates of inter-
 est), (iv) over-all supply of housing accommodations and over-all vacan-
 cy rates, (2) relevant data from  the  current  and  projected  cost  of
 living indices for the affected area, (3) such other data as may be made
 available to it. As soon as practicable after its creation and thereaft-
 er not later than July first of each year, a rent guidelines board shall
 file  with the state division of housing and community renewal its find-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD03549-01-7

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 ings for the preceding calendar year, and shall accompany such  findings
 with  a  statement  of  the maximum rate or rates of rent adjustment, if
 any, for one or more classes  of  accommodation  subject  to  this  act,
 authorized  for  leases or other rental agreements commencing during the
 next succeeding twelve months.  THE MAXIMUM RATE OR RATES OF  ADJUSTMENT
 SHALL  NOT EXCEED TWO PERCENT, OR ONE HUNDRED TWENTY PERCENT OF THE RATE
 OF INFLATION, WHICHEVER IS LOWER. The standards for rent adjustments may
 be applicable for the entire county or may be varied according  to  such
 zones  or  jurisdictions within such county as the board finds necessary
 to achieve the purposes of this subdivision.
   The standards for  rent  adjustments  established  annually  shall  be
 effective for leases commencing on October first of each year and during
 the next succeeding twelve months whether or not the board has filed its
 findings  and  statement of the maximum rate or rates of rent adjustment
 by July first of each year. If such lease is entered  into  before  such
 filing  by  the board, it may provide for the rent to be adjusted by the
 rates then in effect, subject to change by the applicable rates of  rent
 adjustment when filed, such change to be effective as of the date of the
 commencement  of  the  lease.  Said  lease must provide that, if the new
 rates of rent adjustment differ  for  leases  of  different  terms,  the
 tenant  has  the option of changing the original lease term to any other
 term for which a rate of rent adjustment is set by the board,  with  the
 rental to be adjusted accordingly.
   Where  a city, town or village shall act to determine the existence of
 public emergency pursuant to section three of this act subsequent to the
 establishment of annual guidelines for rent adjustments of the  accommo-
 dations  subject to this act, the rent guidelines board as soon as prac-
 ticable thereafter shall file its findings and rates of rent  adjustment
 for  leases or other rental agreements for the housing accommodations in
 such a city, town or village, which rates shall be effective for  leases
 or  other rental agreements commencing on or after the effective date of
 the determination.
   § 2. Subdivision b of section 26-510 of the administrative code of the
 city of New York is amended to read as follows:
   b. The rent guidelines board shall establish annually  guidelines  for
 rent  adjustments, and in determining whether rents for housing accommo-
 dations subject to the  emergency  tenant  protection  act  of  nineteen
 seventy-four  or  this law shall be adjusted shall consider, among other
 things (1) the economic condition of the residential real estate  indus-
 try  in  the  affected area including such factors as the prevailing and
 projected (i) real estate taxes and sewer and water  rates,  (ii)  gross
 operating  maintenance  costs  (including  insurance rates, governmental
 fees, cost of fuel and labor costs), (iii)  costs  and  availability  of
 financing  (including effective rates of interest), (iv) over-all supply
 of housing accommodations and over-all vacancy rates, (2) relevant  data
 from  the  current and projected cost of living indices for the affected
 area, (3) such other data as may be made available to  it.  THE  MAXIMUM
 RATE OR RATES OF ADJUSTMENT SHALL NOT EXCEED TWO PERCENT, OR ONE HUNDRED
 TWENTY  PERCENT  OF THE RATE OF INFLATION, WHICHEVER IS LOWER. Not later
 than July first of each year, the rent guidelines board shall file  with
 the  city  clerk its findings for the preceding calendar year, and shall
 accompany such findings with a statement of the maximum rate or rates of
 rent adjustment, if any, for  one  or  more  classes  of  accommodations
 subject  to  this  law, authorized for leases or other rental agreements
 commencing on the next succeeding October first  or  within  the  twelve

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 months thereafter. Such findings and statement shall be published in the
 City Record.
   §  3.  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; and provided further, that the amendments to section 26-510
 of the rent stabilization law of nineteen  hundred  sixty-nine  made  by
 section  two  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.