assembly Bill A298

2019-2020 Legislative Session

Limits the rent increase after vacancy of a housing accommodation and relates to the adjustment of maximum allowable rent

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Archive: Last Bill Status - In Assembly 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 (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 08, 2020 referred to housing
Jan 09, 2019 referred to housing

A298 (ACTIVE) - Details

Law Section:
New York City Administrative Code
Laws Affected:
Amd §§26-511 & 26-405, NYC Ad Cd; amd §§10 & 6, Emerg Ten Prot Act of 1974; amd §4, Emerg Hous Rent Cont L
Versions Introduced in Other Legislative Sessions:
2015-2016: A5502
2017-2018: A2593

A298 (ACTIVE) - Summary

Limits the rent increase after vacancy of a housing accommodation by eliminating the twenty percent increase for vacant rent stabilized apartments; requires landlords to include an itemized cost accounting of all improvements claimed as part of such increase and copies of the corresponding receipts with the lease agreement to the new tenant; caps the increase in rent allowable to owners for individual apartment improvements to twenty percent of the current rent.

A298 (ACTIVE) - Bill Text download pdf


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

                                   298

                       2019-2020 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2019
                               ___________

Introduced  by  M.  of  A. L. ROSENTHAL -- read once and referred to the
  Committee on Housing

AN ACT to amend the administrative code of the city of New York and  the
  emergency  tenant protection act of nineteen seventy-four, in relation
  to limiting rent increase after vacancy of  a  housing  accommodation;
  and  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 adjustment  of  maximum
  allowable rent

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

  Section 1. Paragraph 5-a of subdivision c of  section  26-511  of  the
administrative  code of the city of New York, as amended by section 16-a
of part A of chapter 20 of the laws of  2015,  is  amended  to  read  as
follows:
  (5-a)  provides  that,  notwithstanding any provision of this chapter,
the legal regulated rent for any vacancy lease entered  into  after  the
effective  date  of  this  paragraph shall be as hereinafter provided in
this paragraph. [The previous legal  regulated  rent  for  such  housing
accommodation  shall  be  increased by the following: (i) if the vacancy
lease is for a term of two years, twenty percent of the  previous  legal
regulated  rent;  or (ii) if the vacancy lease is for a term of one year
the increase shall be twenty percent of  the  previous  legal  regulated
rent  less  an  amount  equal to the difference between (a) the two year
renewal lease guideline promulgated by the guidelines board of the  city
of New York applied to the previous legal regulated rent and (b) the one
year  renewal lease guideline promulgated by the guidelines board of the
city of New York applied to the previous legal regulated rent.] However,
where the amount charged and paid by the prior tenant pursuant to  para-
graph  fourteen  of  this subdivision, was less than the legal regulated

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets