assembly Bill A1980

2017-2018 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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Archive: Last Bill Status - On Floor Calendar


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

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Actions

view actions (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 19, 2017 ordered to third reading rules cal.430
rules report cal.430
reported
Jun 14, 2017 reported referred to rules
May 16, 2017 reported referred to ways and means
Jan 17, 2017 referred to housing

Co-Sponsors

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Multi-Sponsors

A1980 (ACTIVE) - Details

See Senate Version of this Bill:
S4312
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 2015-2016 Legislative Session:
A6054, S4423

A1980 (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.

A1980 (ACTIVE) - Bill Text download pdf


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

                                  1980

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            January 17, 2017
                               ___________

Introduced by M. of A. KAVANAGH, O'DONNELL, GLICK, PERRY, WEPRIN, ORTIZ,
  TITUS,  MOSLEY,  GOTTFRIED, MAYER, FARRELL, AUBRY, ROSENTHAL -- Multi-
  Sponsored by -- M. of A. COOK, CYMBROWITZ, DINOWITZ, HOOPER, LENTOL --
  read once and referred to the Committee on Housing

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
CAPITAL  IMPROVEMENT  RENT  INCREASE WILL BE APPROVED BY THE DIVISION OF
HOUSING AND COMMUNITY RENEWAL UNLESS THE WORK PERFORMED IS  AN  ENHANCE-

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

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