Bill Text: NY A08368 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to eliminating the price index of operating costs as a factor in determining rent increases by the rent guidelines board.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-01-08 - referred to housing [A08368 Detail]
Download: New_York-2019-A08368-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 8368 2019-2020 Regular Sessions IN ASSEMBLY June 15, 2019 ___________ 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: 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 for 4 rent adjustments, and in determining whether rents for housing accommo- 5 dations subject to the emergency tenant protection act of nineteen 6 seventy-four or this law shall be adjusted shall consider, among other 7 things (1) the economic condition of the residential real estate indus- 8 try in the affected area including such factors as the prevailing and 9 projected (i) [real estate taxes and sewer and water rates, (ii) gross10operating maintenance costs (including insurance rates, governmental11fees, cost of fuel and labor costs), (iii)] costs and availability of 12 financing (including effective rates of interest), [(iv)] (ii) over-all 13 supply of housing accommodations and over-all vacancy rates, (2) rele- 14 vant data from the current and projected cost of living indices for the 15 affected area, (3) such other data as may be made available to it. Not 16 later than July first of each year, the rent guidelines board shall file 17 with the city clerk its findings for the preceding calendar year, and 18 shall accompany such findings with a statement of the maximum rate or 19 rates of rent adjustment, if any, for one or more classes of accommo- 20 dations subject to this law, authorized for leases or other rental 21 agreements commencing on the next succeeding October first or within the 22 twelve months thereafter. Such findings and statement shall be published 23 in the City Record. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10414-01-9A. 8368 2 1 § 2. Subdivision b of section 4 of section 4 of chapter 576 of the 2 laws of 1974, constituting the emergency tenant protection act of nine- 3 teen seventy-four, as amended by chapter 486 of the laws of 1976, the 4 opening paragraph as amended by chapter 403 of the laws of 1983 and the 5 second and third undesignated paragraphs as amended by chapter 330 of 6 the laws of 1980, is amended to read as follows: 7 b. A county rent guidelines board shall establish annually guidelines 8 for rent adjustments which, at its sole discretion may be varied and 9 different for and within the several zones and jurisdictions of the 10 board, and in determining whether rents for housing accommodations as to 11 which an emergency has been declared pursuant to this act shall be 12 adjusted, shall consider among other things (1) the economic condition 13 of the residential real estate industry in the affected area including 14 such factors as the prevailing and projected (i) [real estate taxes and15sewer and water rates, (ii) gross operating maintenance costs (including16insurance rates, governmental fees, cost of fuel and labor costs),17(iii)] costs and availability of financing (including effective rates of 18 interest), [(iv)] (ii) over-all supply of housing accommodations and 19 over-all vacancy rates, (2) relevant data from the current and projected 20 cost of living indices for the affected area, (3) such other data as may 21 be made available to it. As soon as practicable after its creation and 22 thereafter not later than July first of each year, a rent guidelines 23 board shall file with the state division of housing and community 24 renewal its findings for the preceding calendar year, and shall accompa- 25 ny such findings with a statement of the maximum rate or rates of rent 26 adjustment, if any, for one or more classes of accommodation subject to 27 this act, authorized for leases or other rental agreements commencing 28 during the next succeeding twelve months. The standards for rent adjust- 29 ments may be applicable for the entire county or may be varied according 30 to such zones or jurisdictions within such county as the board finds 31 necessary to achieve the purposes of this subdivision. 32 The standards for rent adjustments established annually shall be 33 effective for leases commencing on October first of each year and during 34 the next succeeding twelve months whether or not the board has filed its 35 findings and statement of the maximum rate or rates of rent adjustment 36 by July first of each year. If such lease is entered into before such 37 filing by the board, it may provide for the rent to be adjusted by the 38 rates then in effect, subject to change by the applicable rates of rent 39 adjustment when filed, such change to be effective as of the date of the 40 commencement of the lease. Said lease must provide that, if the new 41 rates of rent adjustment differ for leases of different terms, the 42 tenant has the option of changing the original lease term to any other 43 term for which a rate of rent adjustment is set by the board, with the 44 rental to be adjusted accordingly. 45 Where a city, town or village shall act to determine the existence of 46 public emergency pursuant to section three of this act subsequent to the 47 establishment of annual guidelines for rent adjustments of the accommo- 48 dations subject to this act, the rent guidelines board as soon as prac- 49 ticable thereafter shall file its findings and rates of rent adjustment 50 for leases or other rental agreements for the housing accommodations in 51 such a city, town or village, which rates shall be effective for leases 52 or other rental agreements commencing on or after the effective date of 53 the determination. 54 § 3. This act shall take effect immediately; provided, however, that 55 the amendments to section 26-510 of the rent stabilization law of nine- 56 teen hundred sixty-nine made by section one of this act shall expire onA. 8368 3 1 the same date as such law expires and shall not affect the expiration of 2 such law as provided under section 26-520 of such law; and provided, 3 further, that the amendments to section 4 of the emergency tenant 4 protection act of nineteen seventy-four made by section two of this act 5 shall expire on the same date as such act expires and shall not affect 6 the expiration of such act as provided in section 17 of chapter 576 of 7 the laws of 1974, as amended.