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Senate Bill S2203

2019-2020 Legislative Session

Caps the amount of collectible rent increases due to major capital improvements at six percent of the legal regulated rent

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

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2019-S2203 (ACTIVE) - Details

Current Committee:
Senate Housing, Construction And Community Development
Law Section:
Emergency Tenant Protection Act of 1974
Laws Affected:
Amd §6, Emerg Ten Prot Act of 1974
Versions Introduced in Other Legislative Sessions:
2013-2014: S7674
2015-2016: S3588
2017-2018: S4568
2021-2022: S3365
2023-2024: S1235
2025-2026: S864

2019-S2203 (ACTIVE) - Summary

Caps the amount of collectible rent increases due to major capital improvements at six percent of the legal regulated rent.

2019-S2203 (ACTIVE) - Sponsor Memo

2019-S2203 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2203
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 23, 2019
                                ___________
 
 Introduced  by  Sens. BAILEY, MAYER, SEPULVEDA -- read twice and ordered
   printed, and when printed to be committed to the Committee on Housing,
   Construction and Community Development
 
 AN ACT to amend the emergency tenant protection act of  nineteen  seven-
   ty-four,  in  relation  to  capping  the  amount  of  collectible rent
   increases due to major capital improvements  at  six  percent  of  the
   legal regulated rent
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph 3 of subdivision d of section 6 of section  4  of
 chapter  576  of  the  laws  of  1974, constituting the emergency tenant
 protection act of nineteen seventy-four, as amended  by  section  30  of
 part A of chapter 20 of the laws of 2015, is amended to read as follows:
   (3)  there has been since January first, nineteen hundred seventy-four
 a major capital improvement required for the operation, preservation  or
 maintenance  of  the structure. An adjustment under this paragraph shall
 be in an amount sufficient to amortize  the  cost  of  the  improvements
 pursuant to this paragraph over an eight-year period for a building with
 thirty-five or fewer housing accommodations, or a nine-year period for a
 building  with  more  than  thirty-five  housing accommodations, for any
 determination issued by the division of housing  and  community  renewal
 after  the  effective  date  of  the rent act of 2015; PROVIDED THAT THE
 COLLECTION OF ANY INCREASE IN THE LEGAL REGULATED RENT FOR  ANY  HOUSING
 ACCOMMODATION PURSUANT TO THIS PARAGRAPH SHALL NOT EXCEED SIX PERCENT IN
 ANY YEAR FROM THE EFFECTIVE DATE OF THE ORDER GRANTING THE INCREASE OVER
 THE LEGAL REGULATED RENT REGISTERED PURSUANT TO SECTION TWELVE-A OF THIS
 ACT,  WITH  COLLECTIBILITY  OF  ANY  DOLLAR  EXCESS ABOVE SAID SUM TO BE
 SPREAD FORWARD IN SIMILAR INCREMENTS AND ADDED TO  THE  LEGAL  REGULATED
 RENT  AS ESTABLISHED OR SET IN FUTURE YEARS. IN NO EVENT SHALL MORE THAN
 ONE SIX PERCENT INCREASE IN THE LEGAL REGULATED RENT  PURSUANT  TO  THIS
 PARAGRAPH BE COLLECTED IN THE SAME YEAR, or
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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