§ 2. Legislative finding. The legislature hereby finds and declares
that a serious public emergency continues to exist in the housing of a
considerable number of persons in the state of New York, that such
emergency necessitates the intervention of federal, state and local
government in order to prevent speculative, unwarranted and abnormal
increases in rents; that there continues to exist in many areas of the
state an acute shortage of housing accommodations caused by continued
high demand, attributable in part to new household formations and
decreased supply, in large measure attributable to reduced availability
of federal subsidies, and increased costs of construction and other
inflationary factors; that a substantial number of persons residing in
housing not presently subject to the provisions of this act or the
emergency housing rent control law or the local emergency housing rent
control act are being charged excessive and unwarranted rents and rent
increases; that preventive action by the legislature continues to be
imperative in order to prevent exaction of unjust, unreasonable and
oppressive rents and rental agreements and to forestall profiteering,
speculation and other disruptive practices tending to produce threats to
the public health, safety and general welfare; that in order to prevent
uncertainty, hardship and dislocation, the provisions of this act are
necessary and designed to protect the public health, safety and general
welfare; that the transition from regulation to a normal market of free
bargaining between landlord and tenant, while the ultimate objective of
state policy, must take place with due regard for such emergency; and
that the policy herein expressed shall be subject to determination of
the existence of a public emergency requiring the regulation of
residential rents within any city, town or village by the local
legislative body of such city, town or village.