Assembly Bill A5566

2015-2016 Legislative Session

Relates to alternative hardship applications for properties subject to the rent stabilization code

download bill text pdf

Sponsored By

Archive: Last Bill Status - On Floor Calendar


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

multi-Sponsors

2015-A5566 (ACTIVE) - Details

See Senate Version of this Bill:
S1783
Law Section:
New York City Administrative Code
Laws Affected:
Amd §26-511, NYC Ad Cd; amd §6, Emerg Ten Prot Act of 1974
Versions Introduced in Other Legislative Sessions:
2009-2010: A8668, S7079
2011-2012: A2881, S1298
2013-2014: A2181, S513
2017-2018: A1297

2015-A5566 (ACTIVE) - Summary

Relates to alternative hardship applications for properties subject to the rent stabilization code.

2015-A5566 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  5566

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            February 27, 2015
                               ___________

Introduced  by  M.  of A. KAVANAGH, DINOWITZ, ROSENTHAL, PERRY -- Multi-
  Sponsored by -- M. of A.  FARRELL, GOTTFRIED -- read once and referred
  to the Committee 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 hardship applications

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Paragraph  6-a  of subdivision c of section 26-511 of the
administrative code of the city of  New  York  is  amended  to  read  as
follows:
  (6-a)  provides  criteria  whereby  as  an alternative to the hardship
application provided under paragraph six of this subdivision  owners  of
buildings  acquired  by  the same owner or a related entity owned by the
same principals [three] SIX years prior to the date of  application  may
apply to the division for increases in excess of the level of applicable
guideline increases established under this law based on a finding by the
commissioner  that such guideline increases are not sufficient to enable
the owner to maintain an annual gross  rent  income  for  such  building
which  exceeds  the  annual operating expenses of such building by a sum
equal to at least five percent of such gross rent. For the  purposes  of
this  paragraph, operating expenses shall consist of the actual, reason-
able, costs of fuel, labor,  utilities,  taxes,  other  than  income  or
corporate  franchise taxes, fees, permits, necessary contracted services
and non-capital repairs, insurance, parts and supplies, management  fees
and  other  administrative costs and mortgage interest. For the purposes
of this paragraph, mortgage interest shall be deemed to mean interest on
a bona fide mortgage including an allocable portion of  charges  related
thereto.  Criteria  to be considered in determining a bona fide mortgage
other than an institutional mortgage shall  include;  condition  of  the
property,  location of the property, the existing mortgage market at the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01889-01-5
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.