S T A T E O F N E W Y O R K
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8368
2019-2020 Regular Sessions
I N A S S E M B L Y
June 15, 2019
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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
A. 8368 3
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.