Requires the cost of major capital improvements to be recovered through a monthly surcharge on rents
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Senate
- Sponsors
- 11
- Latest action
- Feb 28, 2017
What it does
Establishes a methodology for determining major capital improvements (MCI) rent surcharges; provides that such MCI shall be calculated as a rent surcharge and shall not become part of the base legal regulated rent by which rent increases are calculated, and requires the amount thereof to be separately designated and billed as such; codifies current practices regarding the annual 6% cap on MCI increases and the methodology for determining MCI surcharges based on the number of rooms; requires that rent surcharges authorized for major capital improvements shall cease when the cost of the improvement has been recovered.
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Current step)
Committee (Needs attention)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- KRUEGER
- AVELLA
- BAILEY
- HAMILTON
- HOYLMAN
- MONTGOMERY
- PARKER
- PERALTA
- SERRANO
- STAVISKY
- STEWART-COUSINS
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money in New York.