Bill > S04637

This bill amends the Emergency Tenant Protection Act of 1974 and the Administrative Code of the City of New York to increase the penalty for owners of property who fail to file a proper or timely rent registration statement. Specifically, the bill increases the penalty for rent overcharges from three times the amount of the overcharge to at least three times, but not exceeding five times, the amount of the overcharge. The bill also clarifies that the voluntary adjustment of rent or refund of overcharges shall not be considered as evidence that the overcharge was not willful.