S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    450
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 8, 2025
                                ___________
 
 Introduced  by Sen. HOYLMAN-SIGAL -- read twice and ordered printed, and
   when printed to be committed to the Committee on Judiciary
 
 AN ACT to amend the real property tax law, in  relation  to  prohibiting
   landlords from including incorrect information relating to rent decon-
   trol in certain leases and renewals thereof and requires the standard-
   ization of certain notices pertaining to units subject to the Afforda-
   ble New York Housing Program
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (ii) of paragraph  (f)  of  subdivision  2  of
 section 421-a of the real property tax law, as amended by chapter 289 of
 the laws of 1985, is amended to read as follows:
   (ii)  with  respect to units which become subject to the provisions of
 this section after the effective date of  this  subparagraph,  such  tax
 benefit period as provided in the opening paragraph of this paragraph or
 applicable  law  or  act  shall  have  expired and either each lease and
 renewal thereof for such unit for the tenant in residence at the time of
 such decontrol has included a notice  in  at  least  twelve  point  type
 informing  such tenant that the unit shall become subject to such decon-
 trol upon the expiration of such tax benefit period as provided  in  the
 opening  paragraph of this paragraph or applicable law or act and states
 the approximate date on which such tax benefit period as provided in the
 opening paragraph of this paragraph is scheduled to expire; or such unit
 becomes vacant as provided under subparagraph  (i)  of  this  paragraph.
 NEITHER A LANDLORD NOR ANY PERSON ACTING ON BEHALF OF THE LANDLORD SHALL
 INCLUDE  INCORRECT  OR  MISLEADING  INFORMATION  IN  ANY NOTICE PROVIDED
 PURSUANT TO THIS SUBPARAGRAPH.   A LANDLORD  OR  ANY  PERSON  ACTING  ON
 BEHALF  OF  THE LANDLORD WHO WILLFULLY INCLUDES INFORMATION THEY KNOW OR
 REASONABLY KNOW TO BE MISLEADING OR INCORRECT INFORMATION IN ANY  NOTICE
 PROVIDED PURSUANT TO THIS SUBPARAGRAPH OR FAILS TO PROVIDE THE STANDARD-
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD01952-01-5
 S. 450                              2
 
 IZED  RIDER PURSUANT TO PARAGRAPH (F-1) OF THIS SUBDIVISION IS GUILTY OF
 A VIOLATION PUNISHABLE BY A FINE OF ONE THOUSAND DOLLARS.
   §  2.  Subdivision  2 of section 421-a of the real property tax law is
 amended by adding a new paragraph (f-1) to read as follows:
   (F-1) THE COMMISSIONER OF HOUSING AND COMMUNITY RENEWAL  SHALL  STAND-
 ARDIZE  THE NOTICE TO BE PROVIDED BY LANDLORDS TO THEIR TENANTS PURSUANT
 TO SUBPARAGRAPH (II) OF PARAGRAPH (F) OF THIS SUBDIVISION.  SUCH  NOTICE
 SHALL BE PRINTED IN AT LEAST TWELVE POINT TYPE AND SHALL INCLUDE BUT NOT
 BE LIMITED TO THE FOLLOWING LANGUAGE:
                      421-A STANDARD RIDER FACT SHEET
   ANY  DWELLING  UNIT WITHIN AN ELIGIBLE SITE THAT RECEIVES TAX BENEFITS
 UNDER SECTION 421-A OF THE NEW YORK STATE REAL  PROPERTY  TAX  LAW  WILL
 REMAIN  RENT  STABILIZED  FOR A PERIOD OF TIME DEPENDING ON A VARIETY OF
 FACTORS, INCLUDING  THE  LOCATION  OF  THE  UNIT,  THE  COMMENCEMENT  OF
 CONSTRUCTION  AND  THE  AFFORDABILITY IN THE PROJECT. FAILURE TO PROVIDE
 THE INITIAL STANDARDIZED RIDER MAY RESULT IN  THE  UNIT  REMAINING  RENT
 STABILIZED FOR THE DURATION OF THE TENANCY.  SPECIFIC DETAILS RELATED TO
 YOUR  UNIT ARE LISTED ON THE NEXT SHEET.  WHILE YOUR UNIT RECEIVES 421-A
 TAX BENEFITS, IT WILL BE SUBJECT TO RENT STABILIZATION. NEW YORK STATE'S
 RENT REGULATION LAWS PROVIDE TENANTS IN RENT-STABILIZED APARTMENTS  WITH
 A  VARIETY  OF LEGAL RIGHTS AND PROTECTIONS.  THE OWNER OF YOUR BUILDING
 MUST PROVIDE YOU WITH A RENT-STABILIZED LEASE WHEN YOU FIRST MOVE IN AND
 ALSO EACH TIME YOU RENEW YOUR LEASE FOR YOUR CHOICE OF EITHER A  ONE  OR
 TWO YEAR TERM, FOR AS LONG AS YOUR APARTMENT REMAINS STABILIZED.
   YOU  ARE ENTITLED TO CONTINUOUS LEASE RENEWALS WHILE YOUR APARTMENT IS
 RENT STABILIZED. WHEN YOU RENEW  YOUR  LEASE,  YOUR  RENT  MAY  ONLY  BE
 INCREASED  BY  AN  AMOUNT DETERMINED BY NEW YORK STATE'S RENT REGULATION
 LAWS, WHICH MAY BE FOUND BY VISITING (ENTER WEB ADDRESS), AND  PERMITTED
 BY APPLICABLE TAX BENEFIT LAWS.
   RENT  INCREASES  FOR RENT-STABILIZED TENANTS ARE DETERMINED BY THE NEW
 YORK CITY RENT GUIDELINES BOARD, AND GENERALLY, MAY ONLY INCREASE  BY  A
 SPECIFIED  AMOUNT  WITHIN  A  ONE-YEAR  OR TWO-YEAR LEASE TERM. FOR MORE
 INFORMATION, PLEASE VISIT (ENTER WEB ADDRESS) OR  CALL  (ENTER  NUMBER).
 RENT-STABILIZED  TENANTS ARE ALSO ENTITLED TO ASSISTANCE BY THE NEW YORK
 STATE HOMES AND COMMUNITY RENEWAL BY VISITING  (ENTER  WEB  ADDRESS)  OR
 CALLING (ENTER NUMBER).
                         421-A RIDER - UNIT NUMBER
   AS  A  RENT-REGULATED  TENANT, YOUR RIGHTS ARE, IN PART, DETERMINED BY
 421-A OF THE NEW YORK STATE REAL PROPERTY TAX LAW. FOR MORE INFORMATION,
 YOU MAY CONTACT NEW YORK STATE HOUSING AND COMMUNITY RENEWAL BY  CALLING
 (ENTER  NUMBER)  OR  VISITING  (ENTER  WEB ADDRESS) OR THE NEW YORK CITY
 DEPARTMENT OF HOUSING PRESERVATION AND  DEVELOPMENT  BY  CALLING  (ENTER
 NUMBER) OR VISITING (ENTER WEB ADDRESS).
 THE  FIRST  RENT  AS  OF  (DATE OF INITIAL LEASE COMMENCEMENT) FOR (UNIT
 APARTMENT NUMBER) IS (AMOUNT).
 BECAUSE (UNIT NUMBER) RECEIVES A 421-A TAX ABATEMENT, IT  WILL  BE  RENT
 REGULATED UNTIL AT LEAST MM/DD/YYYY.
 CONSTRUCTION  COMMENCED  ON  YOUR  BUILDING,  LOCATED  AT  (ADDRESS)  ON
 MM/DD/YYYY.
 CONSTRUCTION WAS COMPLETED ON MM/DD/YYYY.
 ON (MM/DD/YYYY SPECIFIC TO TENANT), YOUR LANDLORD CAN BEGIN TO  INCREASE
 THE RENT FOR UNIT NUMBER BY 2.2% EACH YEAR.
   THE 421-A BENEFITS FOR (UNIT NUMBER) EXPIRE ON (MM/DD/YYYY). AFTER THE
 EXPIRATION OF THE 421-A TAX ABATEMENT, YOUR UNIT WILL ___ (EITHER REMAIN
 RENT-STABILIZED  FOR  THE  DURATION  OF  YOUR  TENANCY OR CONTINUE TO BE
 PROTECTED DUE TO ADDITIONAL PROGRAMS OUTLINED BELOW).
 S. 450                              3
 
   (UNIT NUMBER) ALSO RECEIVES  (LIST  ANY  OTHER  CITY,  STATE,  FEDERAL
 AFFORDABILITY PROGRAM) AND (THE IMPACT THAT HAS ON THE UNIT'S CONTINUING
 AFFORDABILITY, THE DATE ON WHICH THOSE BENEFITS EXPIRE AND THE IMPACT OF
 THE EXPIRATION OF THOSE BENEFITS ON THE UNIT).
   IF  YOU BELIEVE THAT ANY OF THE INFORMATION CONTAINED IN THIS RIDER IS
 INCORRECT, CONTACT NEW YORK STATE HOMES AND COMMUNITY RENEWAL BY CALLING
 (ENTER NUMBER) OR VISITING (ENTER WEB ADDRESS)  OR  THE  NEW  YORK  CITY
 DEPARTMENT  OF  HOUSING  PRESERVATION  AND DEVELOPMENT BY CALLING (ENTER
 NUMBER) OR VISITING (ENTER WEB ADDRESS).
   § 3. This act shall take effect on the sixtieth  day  after  it  shall
 have become a law and shall apply to all leases entered into, renewed or
 extended  on  and  after  such effective date. Effective immediately the
 addition, amendment and/or repeal of any rule  or  regulation  necessary
 for  the implementation of this act on its effective date are authorized
 to be made and completed on or before such date.