Senate Bill S6925

2017-2018 Legislative Session

Relates to the establishment of rent adjustments; repealer

download bill text pdf

Sponsored By

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


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-S6925 (ACTIVE) - Details

See Assembly Version of this Bill:
A268
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
New York City Administrative Code
Laws Affected:
Amd §26-405, rpld sub g ¶1 sub¶¶ (l) & (n), NYC Ad Cd; amd §4, Emerg Hous Rent Cont L
Versions Introduced in Other Legislative Sessions:
2013-2014: A7881
2015-2016: S5040, A398
2019-2020: S299, A167

2017-S6925 (ACTIVE) - Summary

Relates to the establishment of rent adjustments.

2017-S6925 (ACTIVE) - Sponsor Memo

2017-S6925 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6925
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             October 20, 2017
                                ___________
 
 Introduced  by Sen. BENJAMIN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend the administrative code of the city of New York and  the
   emergency  housing  rent control law, in relation to the establishment
   of rent adjustments; and repealing certain provisions of the  adminis-
   trative code of the city of New York relating thereto
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 5 of subdivision  a  of  section  26-405  of  the
 administrative  code  of  the  city  of  New  York is amended to read as
 follows:
   (5) Where a maximum rent established pursuant to this  chapter  on  or
 after  January  first,  nineteen hundred seventy-two, is higher than the
 previously existing maximum  rent,  the  landlord  may  not  collect  AN
 INCREASE  FROM A TENANT IN OCCUPANCY IN ANY ONE YEAR PERIOD OF more than
 THE LESSER OF EITHER seven  and  one-half  percentum  [increase  from  a
 tenant in occupancy on such date in any one year period, provided howev-
 er,  that  where]  OR  AN AVERAGE OF THE PREVIOUS FIVE YEARS OF ONE-YEAR
 RENT INCREASES ON RENT STABILIZED APARTMENTS AS ESTABLISHED BY THE  RENT
 GUIDELINES  BOARD,  PURSUANT  TO SUBDIVISION B OF SECTION 26-510 OF THIS
 TITLE. IF the period for which the rent is established exceeds one year,
 regardless of how the collection thereof is averaged over  such  period,
 the  rent  the  landlord  shall  be entitled to receive during the first
 twelve months shall not be increased by more than THE LESSER  OF  EITHER
 seven and one-half percentum OR AN AVERAGE OF THE PREVIOUS FIVE YEARS OF
 ONE-YEAR  RENT INCREASES ON RENT STABILIZED APARTMENTS AS ESTABLISHED BY
 THE RENT GUIDELINES BOARD, PURSUANT TO SUBDIVISION B OF  SECTION  26-510
 OF THIS TITLE, over the previous rent [and]. ANY additional annual rents
 shall not exceed THE LESSER OF EITHER seven and one-half percentum OR AN
 AVERAGE  OF  THE  PREVIOUS FIVE YEARS OF ONE-YEAR RENT INCREASES ON RENT
 STABILIZED APARTMENTS AS  ESTABLISHED  BY  THE  RENT  GUIDELINES  BOARD,
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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