Assembly Bill A2356

2019-2020 Legislative Session

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

download bill text pdf

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Archive: Last Bill Status - In Assembly 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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2019-A2356 (ACTIVE) - Details

See Senate Version of this Bill:
S2579
Current Committee:
Assembly Housing
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:
2017-2018: A8886, S8089
2021-2022: S3398
2023-2024: S1430

2019-A2356 (ACTIVE) - Summary

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

2019-A2356 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2356
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2019
                                ___________
 
 Introduced  by  M.  of  A. O'DONNELL, MOSLEY, SEAWRIGHT -- read once and
   referred to the Committee 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 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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