Bill > A00659

This bill amends the New York Real Property Tax Law to strengthen protections for tenants in buildings receiving 421-a tax benefits by prohibiting landlords from providing incorrect or misleading information about rent decontrol. Specifically, the bill requires landlords to include a standardized notice in at least 12-point type when informing tenants about potential rent decontrol, which must comprehensively explain the tenant's rights under rent stabilization, the duration of the 421-a tax benefits, and potential future rent increases. The bill imposes a $1,000 fine on landlords who willfully include incorrect or misleading information in these notices. The standardized notice, referred to as the "421-a Standard Rider Fact Sheet," must provide detailed information about the specific unit, including the initial rent, construction dates, when rent increases can begin, when tax benefits expire, and the unit's potential continued rent stabilization status. Landlords must also provide contact information for tenants to seek further information or dispute the notice's contents. The bill will take effect 60 days after becoming law and will apply to all leases entered into, renewed, or extended after that date.

Budget and Finance, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A659