ALBANY, N.Y. (WKBW) — The New York State Assembly passed legislation to extend and strengthen rent protection for New Yorkers Friday, New York Governor Andrew Cuomo immediately signed the bill into law as the regulations were set to expire Saturday.
“Today we passed historic legislation that will help keep families from being forced out of their homes and priced out of the communities they are a part of,” said Assembly Speaker Carl Heastie Friday. “For too long, power has been tilted in favor of landlords. But today we were able to level the playing field and bring stability to tenants across New York State, whether they live in an apartment in the Bronx, a single family home in Nassau County or a manufactured home upstate. The Assembly Majority will continue working to ensure every New Yorker can find quality, affordable housing.”
The legislation includes:
- Extends and makes permanent rent regulation laws
- Repeals high rent vacancy deregulation & high income deregulation
- Repeals vacancy & longevity bonuses
- Reforms preferential rent
- Extends rent overcharge look-back to six years
- Establishes statewide option for the ETPA
- Provides relief from large rent increases for rent-controlled tenants
- Reforms the owner use exception
- Keeps stabilized apartments rented to nonprofits in the stabilization system
- Reforms major capital improvement (MCI) increases
- Reforms individual apartment improvement (IAI) increases
- Establishes stronger housing security and tenant protections statewide
- Reform condo and co-op conversion
- Establishes protections for mobile & manufactured Home (MMH) tenants
"At the beginning of this legislative session, I called for the most sweeping, aggressive tenant protections in state history. I'm confident the measure passed today is the strongest possible set of reforms that the Legislature was able to pass and are a major step forward for tenants across New York.," Governor Cuomo said Friday.
To read the full bill click here.