S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8368
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 15, 2019
                                ___________
 
 Introduced  by M. of A. EPSTEIN -- read once and referred to the Commit-
   tee 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 eliminating the price index of  operating  costs  as  a  factor  in
   determining rent increases by 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 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)] (II)  over-all
 supply  of  housing accommodations and over-all vacancy rates, (2) rele-
 vant 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. 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  accommo-
 dations  subject  to  this  law,  authorized  for leases or other rental
 agreements commencing on the next succeeding October first or within the
 twelve months thereafter. Such findings and statement shall be published
 in the City Record.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD10414-01-9

 A. 8368                             2
 
   § 2. Subdivision b of section 4 of section 4 of  chapter  576  of  the
 laws  of 1974, constituting the emergency tenant protection act of nine-
 teen 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
 interest), [(iv)] (II) 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. As soon as practicable after its creation and
 thereafter not later than July first of each  year,  a  rent  guidelines
 board  shall  file  with  the  state  division  of housing and community
 renewal its findings for the preceding calendar year, and shall accompa-
 ny 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 standards for rent adjust-
 ments 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.
   § 3. This act shall take effect immediately; provided,  however,  that
 the  amendments to section 26-510 of the rent stabilization law of nine-
 teen hundred sixty-nine made by section one of this act shall expire  on

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 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; and provided,
 further, that the amendments  to  section  4  of  the  emergency  tenant
 protection  act of nineteen seventy-four made by section two 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.