New York A 5533: Provides for tenant responses to applications for a major capital improvement rent increase

Bill Text

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A05533 Summary:

BILL NOA05533 

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SAME ASSAME AS S03812

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SPONSORJackson

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COSPNSR

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MLTSPNSR

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Amd §§26-405 & 26-511, NYC Ad Cd; amd §6, Emerg Ten Prot Act of 1974; amd §4, Emerg Hous Rent Cont L

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Provides for tenant responses to applications for a major capital improvement rent increase; allows tenants to respond within one hundred twenty days from the date of mailing of a notice of a proceeding; requires the state division of housing and community renewal to provide any responding tenant with the reasons for the division's approval or denial of such application.

Go to top A05533 Actions:

BILL NOA05533 

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02/14/2025referred to housing

01/07/2026referred to housing

Go to topA05533 Committee&nbspVotes:

Go to topA05533 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA05533 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5533

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 14, 2025
 ___________

 Introduced by M. of A. JACKSON -- read once and referred to the Commit-
 tee on Housing

 AN ACT to amend the administrative code of the city of New York, the
 emergency tenant protection act of nineteen seventy-four and the emer-
 gency housing rent control law, in relation to tenant responses to
 applications for a major capital improvement rent increase

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Paragraph 1 of subdivision g of section 26-405 of the
 2 administrative code of the city of New York is amended by adding a new
 3 subparagraph (g-1) to read as follows:
 4 (g-1) Where an application for a major capital improvement rent
 5 increase has been filed, a tenant shall have one hundred twenty days
 6 from the date of mailing of a notice of a proceeding in which to answer
 7 or reply. The city rent agency shall provide any responding tenant with
 8 the reasons for the city rent agency's approval or denial of such appli-
 9 cation; or
 10 § 2. Paragraph 6 of subdivision c of section 26-511 of the administra-
 11 tive code of the city of New York, as separately amended by section 12
 12 of part K of chapter 36 and section 28 of part Q of chapter 39 of the
 13 laws of 2019, is amended to read as follows:
 14 (6) provides criteria whereby the commissioner may act upon applica-
 15 tions by owners for increases in excess of the level of fair rent
 16 increase established under this law provided, however, that such crite-
 17 ria shall provide (a) as to hardship applications, for a finding that
 18 the level of fair rent increase is not sufficient to enable the owner to
 19 maintain approximately the same average annual net income (which shall
 20 be computed without regard to debt service, financing costs or manage-
 21 ment fees) for the three year period ending on or within six months of
 22 the date of an application pursuant to such criteria as compared with
 23 annual net income, which prevailed on the average over the period nine-

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06551-01-5

 A. 5533 2

 1 teen hundred sixty-eight through nineteen hundred seventy, or for the
 2 first three years of operation if the building was completed since nine-
 3 teen hundred sixty-eight or for the first three fiscal years after a
 4 transfer of title to a new owner provided the new owner can establish to
 5 the satisfaction of the commissioner that [he or she] they acquired
 6 title to the building as a result of a bona fide sale of the entire
 7 building and that the new owner is unable to obtain requisite records
 8 for the fiscal years nineteen hundred sixty-eight through nineteen
 9 hundred seventy despite diligent efforts to obtain same from predeces-
 10 sors in title and further provided that the new owner can provide finan-
 11 cial data covering a minimum of six years under [his or her] their
 12 continuous and uninterrupted operation of the building to meet the three
 13 year to three year comparative test periods herein provided; and (b) as
 14 to completed building-wide major capital improvements, for a finding
 15 that such improvements are deemed depreciable under the