assembly Bill A6973

2021-2022 Legislative Session

Relates to regulating buyout agreements within rent regulated apartments

download bill text pdf

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Current 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 (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 19, 2021 referred to housing

A6973 (ACTIVE) - Details

See Senate Version of this Bill:
S3078
Law Section:
Emergency Tenant Protection Act of 1974
Laws Affected:
Add §10-c, Emerg Ten Prot Act of 1974
Versions Introduced in 2019-2020 Legislative Session:
A8646, S6680

A6973 (ACTIVE) - Summary

Regulates buyout agreements within rent regulated apartments between a landlord and current tenant, and provides penalties for harassment by a landlord.

A6973 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6973
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 19, 2021
                                ___________
 
 Introduced by M. of A. DAVILA -- read once and referred to the Committee
   on Housing
 
 AN  ACT  to amend the emergency tenant protection act of nineteen seven-
   ty-four, in relation  to  regulating  buyouts  within  rent  regulated
   apartments
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 4 of chapter 576 of the laws of 1974,  constituting
 the emergency tenant protection act of nineteen seventy-four, is amended
 by adding a new section 10-c to read as follows:
   §  10-C.  REGULATED  BUYOUTS  FOR  RENT  REGULATED  APARTMENTS. A. FOR
 PURPOSES OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE  THE  FOLLOWING
 MEANINGS:
   (1)  "BUYOUT AGREEMENT" SHALL MEAN AN AGREEMENT WHEREIN THE OWNER OF A
 DWELLING UNIT EXCHANGES MONEY OR OTHER VALUABLE CONSIDERATION TO  INDUCE
 ANY  PERSON  LAWFULLY ENTITLED TO OCCUPANCY OF SUCH UNIT TO SURRENDER OR
 WAIVE ANY RIGHTS IN RELATION TO  SUCH  OCCUPANCY  THAT  RESULTS  IN  THE
 TENANT VACATING SUCH UNIT.
   (2)  "COMMISSIONER"  SHALL  MEAN  THE  COMMISSIONER OF THE DIVISION OF
 HOUSING AND COMMUNITY RENEWAL AND ANY SUCCESSOR THERETO.
   (3) "DIVISION" SHALL  MEAN  THE  DIVISION  OF  HOUSING  AND  COMMUNITY
 RENEWAL AND ANY SUCCESSOR THERETO.
   B.  (1) IF A LANDLORD SHALL MAKE A BUYOUT OFFER TO A CURRENT TENANT IN
 THE FORM OF A PROPOSED BUYOUT AGREEMENT, SUCH AGREEMENT SHALL BE MADE IN
 WRITING AND SHALL CONTAIN:
   (A) HIS OR HER NAME AND CONTACT INFORMATION;
   (B) THE DATE THE REQUEST WAS MADE IN WRITING;
   (C) THE AMOUNT OF MONEY BEING OFFERED TO THE CURRENT TENANT; AND
   (D) THE REASON FOR CONTACTING THE TENANT;
   (2) THE LANDLORD SHALL MAKE IT KNOWN TO A TENANT WITHIN  ANY  PROPOSED
 BUYOUT AGREEMENT THAT:

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.