New York S 6764: Relates to placing limitations on initial regulated rents

Bill Text

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S06764 Summary:

BILL NOS06764 

&nbsp

SAME ASSAME AS A08084

&nbsp

SPONSORJACKSON

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §6, Emerg Ten Prot Act of 1974; amd §26-512, NYC Ad Cd

&nbsp

Places limitations on initial regulated rents to not exceed the average rent for a comparable rent regulated housing accommodation.

Go to top S06764 Actions:

BILL NOS06764 

&nbsp

03/24/2025REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

01/07/2026REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Go to topS06764 Committee&nbspVotes:

Go to topS06764 Floor&nbspVotes:

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

Go to topS06764 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6764

 2025-2026 Regular Sessions

 IN SENATE

 March 24, 2025
 ___________

 Introduced by Sen. JACKSON -- read twice and ordered printed, and when
 printed to be committed to the Committee on Housing, Construction and
 Community Development

 AN ACT to amend chapter 576 of the laws of 1974, constituting the emer-
 gency tenant protection act of nineteen seventy-four and the adminis-
 trative code of the city of New York, in relation to placing limita-
 tions on initial regulated rents

 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 6 of section 4 of chapter 576 of
 2 the laws of 1974, constituting the emergency tenant protection act of
 3 nineteen seventy-four, is amended to read as follows:
 4 b. The initial legal regulated rents for housing accommodations in a
 5 city having a population of less than one million or a town or village
 6 as to which a declaration of emergency has been made pursuant to this
 7 act shall be:
 8 (1) For housing accommodations subject to the emergency housing rent
 9 control law which become vacant on or after the local effective date of
 10 this act, the rent agreed to by the landlord and the tenant and reserved
 11 in a lease or provided for in a rental agreement; provided that such
 12 initial legal regulated rent shall not exceed the average rent for a
 13 comparable rent regulated housing accommodation, as determined by the
 14 rent guidelines board with jurisdiction over such housing accommodation,
 15 and may be adjusted on application of the owner or tenant pursuant to
 16 subdivision a of section nine of this act; and provided further that no
 17 increase of such initial regulated rent pursuant to annual guidelines
 18 adopted by the rent guidelines board shall become effective until the
 19 expiration of the first lease or rental agreement taking effect after
 20 the local effective date, but in no event before one year from the
 21 commencement of such rental agreement.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD06321-01-5

 S. 6764 2

 1 (2) For all other housing accommodations, the rent reserved in the
 2 last effective lease or other rental agreement; provided that an initial
 3 rent based upon the rent reserved in a lease or other rental agreement
 4 which became effective on or after January first, nineteen hundred
 5 seventy-four may be adjusted on application of the tenant pursuant to
 6 subdivision b of section nine of this act or on application of either
 7 the owner or tenant pursuant to subdivision a of such section; and
 8 further provided that if a lease is entered into for such housing accom-
 9 modations after the local effective date, but before the effective date
 10 of the first guidelines applicable to such accommodations, the lease may
 11 provide for an adjustment of rent pursuant to such guidelines, to be
 12 effective on the first day of the month next succeeding the effective
 13 date of such guidelines.
 14 § 2. Subdivision b of section 26-512 of the administrative code of the
 15 city of New York is amended to read as follows:
 16 b. The initial regulated rent for housing accommodations subject to
 17 this law on the local effective date of the emergency tenant protection
 18 act of nineteen seventy-four or which become subject to this law there-
 19 after, pursuant to such act, shall be:
 20 (1) For housing accommodations which were regulated pursuant to this
 21 law or th