Bill > A00106

This bill amends the Emergency Tenant Protection Act of 1974 and the Administrative Code of the City of New York to increase the penalties for owners of property who fail to file a proper or timely rent registration statement. Specifically, the bill increases the penalty for a first offense from three times the amount of the overcharge to five times the amount, and for any subsequent offense, the penalty is increased from three times the overcharge to ten times the amount. The bill also clarifies the calculation of the legal regulated rent for determining overcharges.