Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2024 |
referred to housing |
Jan 09, 2023 |
referred to housing |
Assembly Bill A422
2023-2024 Legislative Session
Sponsored By
EPSTEIN
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2023-A422 (ACTIVE) - Details
2023-A422 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 422 2023-2024 Regular Sessions I N A S S E M B L Y January 9, 2023 ___________ 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, as amended by section 4 of part C of chapter 36 of the laws of 2019, is amended to read as follows: b. The rent guidelines board shall establish annual 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 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00132-01-3
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