Bill > S00450

This bill addresses rent decontrol and tenant protections for units under the Affordable New York Housing Program (421-a program). It requires landlords to provide a standardized notice to tenants about their unit's rent stabilization status, with specific details about tax benefits and potential future rent changes. The bill prohibits landlords from including incorrect or misleading information in these notices, and imposes a $1,000 fine for willful violations. The standardized notice, to be developed by the housing commissioner, must be in at least 12-point type and provide comprehensive information about the unit's rent stabilization, including the expected duration of tax benefits, tenant rights, potential rent increases, and contact information for housing authorities. Landlords must disclose specific details about the unit, such as the initial rent, construction dates, potential rent increase dates, and the status of the unit after the tax abatement expires. The bill aims to increase transparency and protect tenants by ensuring they receive accurate information about their housing status and rights under the 421-a tax benefit program.

Budget and Finance, Housing and Urban Affairs, Justice

https://www.nysenate.gov/legislation/bills/2025/S450