Bill Text: NY A07234 | 2011-2012 | General Assembly | Introduced
Bill Title: Prohibits a county rent guidelines board from establishing rent adjustments for class A dwelling units based on the current rental cost of a unit or on the amount of time that has elapsed since another rent increase authorized was authorized.
Spectrum: Partisan Bill (Democrat 19-0)
Status: (Engrossed - Dead) 2012-06-13 - REFERRED TO RULES [A07234 Detail]
Download: New_York-2011-A07234-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
7234
2011-2012 Regular Sessions
I N A S S E M B L Y
April 19, 2011
___________
Introduced by M. of A. ROSENTHAL, DINOWITZ, GLICK, JEFFRIES, JACOBS,
GOTTFRIED, ABINANTI, STEVENSON, ROBINSON, MAISEL, BARRON, COLTON,
CASTRO, GIBSON, COOK -- Multi-Sponsored by -- M. of A. BRENNAN, MARKEY
-- read once and referred to the Committee on Housing
AN ACT to amend the administrative code of the city of New York, in
relation to authorizing rent adjustments for class A dwelling units
based on the length of the lease
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Subdivision b of section 26-510 of the administrative code
2 of the city of New York is amended to read as follows:
3 b. The rent guidelines board shall establish annually [guidelines] A
4 GUIDELINE AMOUNT for rent adjustments[, and in] FOR ALL CLASS A DWELLING
5 UNITS SUBJECT TO THIS CHAPTER; THE BOARD MAY VARY THE RENT ADJUSTMENT,
6 IF ANY, SOLELY BASED ON THE LENGTH OF THE LEASE TERM. IN determining
7 whether rents for housing accommodations subject to the emergency tenant
8 protection act of nineteen seventy-four or this law shall be adjusted
9 shall consider, among other things (1) the economic condition of the
10 residential real estate industry in the affected area including such
11 factors as the prevailing and projected (i) real estate taxes and sewer
12 and water rates, (ii) gross operating maintenance costs (including
13 insurance rates, governmental fees, cost of fuel and labor costs), (iii)
14 costs and availability of financing (including effective rates of inter-
15 est), (iv) over-all supply of housing accommodations and over-all vacan-
16 cy rates, (2) relevant data from the current and projected cost of
17 living indices for the affected area, (3) such other data as may be made
18 available to it. Not later than July first of each year, the rent guide-
19 lines board shall file with the city clerk its findings for the preced-
20 ing calendar year, and shall accompany such findings with a statement of
21 the maximum rate or rates of rent adjustment, if any, for one or more
22 classes of accommodations subject to this law, authorized for leases or
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10708-01-1
A. 7234 2
1 other rental agreements commencing on the next succeeding October first
2 or within the twelve months thereafter. Such findings and statement
3 shall be published in the City Record.
4 S 2. This act shall take effect immediately; provided that the amend-
5 ments to section 26-510 of chapter 4 of title 26 of the administrative
6 code of the city of New York made by section one of this act shall
7 expire on the same date as such law expires and shall not affect the
8 expiration of such law as provided under section 26-520 of such law.
