S T A T E O F N E W Y O R K
________________________________________________________________________
10599
I N A S S E M B L Y
March 13, 2026
___________
Introduced by M. of A. HYNDMAN -- read once and referred to the Commit-
tee on Housing
AN ACT to amend the administrative code of the city of New York, in
relation to establishing certain criteria for the rent guidelines
board to use for purposes of determining annual rent adjustments
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 26-510 of the administrative code of the city of
New York is amended by adding a new subdivision b-1 to read as follows:
B-1. FOR PURPOSES OF DETERMINING ANNUAL RENT ADJUSTMENTS, THE RENT
GUIDELINES BOARD SHALL:
1. INCLUDE IN ITS ASSESSMENT FOR RENT ADJUSTMENTS PROPERTIES OF ALL
SIZES;
2. CREATE CATEGORIES OF PROPERTY OWNERS THAT REFLECT SMALL, MEDIUM,
AND LARGE PROPERTY OWNERS, WHERE THE SIZE OF THE PROPERTY OWNER MUST BE
DETERMINED BY, AND NOT LIMITED TO: (I) THE NUMBER OF TOTAL UNITS, BOTH
RENT STABILIZED AND NON-RENT STABILIZED, PER OWNER; (II) GROSS RENT; AND
(III) INCOME RECEIPTS;
3. IDENTIFY AND PUBLISH THE DATA SOURCE USED TO DETERMINE RENT ADJUST-
MENTS, INCLUDING, BUT NOT LIMITED TO, THE REAL PROPERTY INCOME AND
EXPENSE FORM PROVIDED BY THE DEPARTMENT OF FINANCE; AND
4. FOR THE PURPOSES OF HARDSHIP RENT INCREASE, LIMIT ELIGIBILITY TO
PROPERTY OWNERS WITH A MAXIMUM OF TWENTY UNITS, INCLUDING BOTH RENT
STABILIZED AND NON-RENT STABILIZED LOCATED IN NEW YORK CITY, AND PROHIB-
IT THE AWARD OF HARDSHIP RENT INCREASES TO LIMITED LIABILITY COMPANIES
AND OTHER LARGE REAL ESTATE INVESTORS AND COMPANIES.
§ 2. This act shall take effect immediately; provided that the amend-
ments to section 26-510 of the administrative code of the city of New
York made by section one of this act shall not affect the expiration of
such section and shall be deemed to expire therewith.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04938-01-5
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.