Bill Title: Establishes a methodology for determining major capital improvements (MCI) rent surcharges based on a seven year schedule; provides that such MCIs shall be calculated as a rent surcharge and shall not become part of the base legal regulated rent by which rent increases are calculated, and requires the amount thereof to be separately designated and billed as such; codifies current practices regarding the annual 6% cap on MCI increases and the methodology for determining MCI surcharges based on the number of rooms; requires that rent surcharges authorized for major capital improvements shall cease when the cost of the improvement has been recovered.

Spectrum: Partisan Bill (Democrat 10-0)

Status: (Introduced - Dead) 2012-01-04 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S00523 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Liz Krueger [D]	Primary	Sponsored Bills	SD-028	FollowTheMoney	Ballotpedia	VoteSmart
Senator Tony Avella [D]	Cosponsor	Sponsored Bills	SD-011	FollowTheMoney	Ballotpedia	VoteSmart
Senator Thomas Duane [D]	Cosponsor	Sponsored Bills	SD-029	FollowTheMoney	Ballotpedia	VoteSmart
Senator Ruth Hassell-Thompson [D]	Cosponsor	Sponsored Bills	SD-036	FollowTheMoney	Ballotpedia	VoteSmart
Senator Velmanette Montgomery [D]	Cosponsor	Sponsored Bills	SD-025	FollowTheMoney	Ballotpedia	VoteSmart
Senator Jose Peralta [D]	Cosponsor	Sponsored Bills	SD-013	FollowTheMoney	Ballotpedia	VoteSmart
Senator Bill Perkins [D]	Cosponsor	Sponsored Bills	SD-030	FollowTheMoney	Ballotpedia	VoteSmart
Senator Jose Serrano [D]	Cosponsor	Sponsored Bills	SD-029	FollowTheMoney	Ballotpedia	VoteSmart
Senator Toby Stavisky [D]	Cosponsor	Sponsored Bills	SD-011	FollowTheMoney	Ballotpedia	VoteSmart
Senator Andrea Stewart-Cousins [D]	Cosponsor	Sponsored Bills	SD-035	FollowTheMoney	Ballotpedia	VoteSmart

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