Senate Bill S8089A

2017-2018 Legislative Session

Approves major capital improvement rent increases and extends the length of time over which major capital improvement expenses may be recovered

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Sponsored By

Archive: Last Bill Status - In Senate Committee Housing, Construction And Community Development Committee


  • 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

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Bill Amendments

2017-S8089 - Details

See Assembly Version of this Bill:
A8886
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
New York City Administrative Code
Laws Affected:
Amd §§26-405 & 26-511, NYC Ad Cd; amd §6, Emerg Ten Prot Act of 1974; amd §4, Emerg Hous Rent Cont L
Versions Introduced in Other Legislative Sessions:
2019-2020: S2579, A2356
2021-2022: S3398
2023-2024: S1430

2017-S8089 - Summary

Approves major capital improvement rent increases and extends the length of time over which major capital improvement expenses may be recovered.

2017-S8089 - Sponsor Memo

2017-S8089 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8089
 
                             I N  S E N A T E
 
                              March 27, 2018
                                ___________
 
 Introduced  by  Sen.  BAILEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Housing, Construction  and
   Community Development
 
 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 approving major capital
   improvement rent increases and extending the length of time over which
   major capital improvement expenses may be recovered
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (g) of paragraph 1 of subdivision g of section
 26-405 of the administrative code of the city of New York, as amended by
 section  31  of  part A of chapter 20 of the laws of 2015, is amended to
 read as follows:
   (g) (I) COLLECTION OF SURCHARGES TO THE MAXIMUM RENT AUTHORIZED PURSU-
 ANT TO ITEM (II) OF THIS SUBPARAGRAPH SHALL CEASE  WHEN  THE  OWNER  HAS
 RECOVERED  THE  COST  OF THE MAJOR CAPITAL IMPROVEMENT AND NO ADJUSTMENT
 SHALL BE ALLOWED FOR ANY BUILDING IN WHICH MORE THAN  FIFTY  PERCENT  OF
 THE  HABITABLE  UNITS  ARE  NOT  SUBJECT  TO  RENT STABILIZATION OR RENT
 CONTROL;
   (II) There has been since July  first,  nineteen  hundred  seventy,  a
 major  capital  improvement [required for the operation, preservation or
 maintenance of the structure. An adjustment under this subparagraph  (g)
 for any order of the commissioner issued after the effective date of the
 rent  act  of 2015 shall be in an amount sufficient to amortize the cost
 of the improvements pursuant to this subparagraph (g) over an eight-year
 period for buildings with thirty-five or fewer  units  or  a  nine  year
 period  for  buildings  with more than thiry-five units,]; PROVIDED THAT
 THE COMMISSIONER FIRST FINDS THAT SUCH IMPROVEMENTS ARE DEEMED DEPRECIA-
 BLE UNDER THE INTERNAL REVENUE CODE AND SUCH IMPROVEMENTS  ARE  REQUIRED
 FOR  THE  OPERATION  OR  PRESERVATION  OF  THE  STRUCTURE  AND; PROVIDED
 FURTHER, THAT  SUCH  IMPROVEMENTS  ARE  NOT  REQUIRED  BY  LAW,  AS  THE
 COLLECTION  OF SURCHARGES TO THE MAXIMUM RENT AUTHORIZED ARE NOT PERMIT-
 TED FOR SUCH IMPROVEMENTS.  HOWEVER, NO MAJOR CAPITAL  IMPROVEMENT  RENT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

co-Sponsors

2017-S8089A (ACTIVE) - Details

See Assembly Version of this Bill:
A8886
Current Committee:
Senate Housing, Construction And Community Development
Law Section:
New York City Administrative Code
Laws Affected:
Amd §§26-405 & 26-511, NYC Ad Cd; amd §6, Emerg Ten Prot Act of 1974; amd §4, Emerg Hous Rent Cont L
Versions Introduced in Other Legislative Sessions:
2019-2020: S2579, A2356
2021-2022: S3398
2023-2024: S1430

2017-S8089A (ACTIVE) - Summary

Approves major capital improvement rent increases and extends the length of time over which major capital improvement expenses may be recovered.

2017-S8089A (ACTIVE) - Sponsor Memo

2017-S8089A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  8089--A
 
                             I N  S E N A T E
 
                              March 27, 2018
                                ___________
 
 Introduced  by  Sen.  BAILEY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Housing, Construction  and
   Community  Development  -- committee discharged, bill amended, ordered
   reprinted as amended and recommitted to said committee
 
 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 approving major capital
   improvement rent increases and extending the length of time over which
   major capital improvement expenses may be recovered
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (g) of paragraph 1 of subdivision g of section
 26-405 of the administrative code of the city of New York, as amended by
 section 31 of part A of chapter 20 of the laws of 2015,  is  amended  to
 read as follows:
   (g) (I) COLLECTION OF SURCHARGES TO THE MAXIMUM RENT AUTHORIZED PURSU-
 ANT  TO  ITEM  (II)  OF THIS SUBPARAGRAPH SHALL CEASE WHEN THE OWNER HAS
 RECOVERED THE COST OF THE MAJOR CAPITAL IMPROVEMENT;
   (II) There has been since July  first,  nineteen  hundred  seventy,  a
 major  capital  improvement [required for the operation, preservation or
 maintenance of the structure. An adjustment under this subparagraph  (g)
 for any order of the commissioner issued after the effective date of the
 rent  act  of 2015 shall be in an amount sufficient to amortize the cost
 of the improvements pursuant to this subparagraph (g) over an eight-year
 period for buildings with thirty-five or fewer  units  or  a  nine  year
 period  for  buildings  with more than thiry-five units,]; PROVIDED THAT
 THE COMMISSIONER FIRST FINDS THAT SUCH IMPROVEMENTS ARE DEEMED DEPRECIA-
 BLE UNDER THE INTERNAL REVENUE CODE AND SUCH IMPROVEMENTS  ARE  REQUIRED
 FOR  THE  OPERATION OR PRESERVATION OF THE STRUCTURE.  HOWEVER, NO MAJOR
 CAPITAL IMPROVEMENT RENT INCREASE WILL BE APPROVED BY  THE  DIVISION  OF
 HOUSING  AND  COMMUNITY RENEWAL UNLESS THE WORK PERFORMED IS AN ENHANCE-
 MENT OR UPGRADE TO A HOUSING ACCOMMODATION OR SERVICE THEREIN; OR IS  AN
 ADDITION  TO SUCH HOUSING ACCOMMODATION AND OTHERWISE ELIGIBLE ACCORDING
 TO THE PREREQUISITES FOR MAJOR CAPITAL IMPROVEMENT RENT  INCREASES.  ANY
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
              

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