Bill > A03203

This bill addresses the preservation of affordable housing by extending rent stabilization protections to certain housing accommodations that were previously regulated under specific housing programs. The bill allows for a declaration of emergency to apply rent stabilization to rental housing in two key scenarios: (1) buildings previously owned by limited-profit housing companies (under the Mitchell-Lama program) that have voluntarily dissolved, and (2) buildings that received federal project-based rental assistance through the Department of Housing and Urban Development (HUD) where those contracts have expired or been terminated. The initial legal regulated rent for these housing units will be set at the rent charged to tenants 180 days before the bill's effective date, or for vacant units, the most recent tenant's rent, including any applicable increases. Importantly, the bill provides specific provisions for New York City, allowing the city to amend its rent stabilization law to regulate rents and evictions for these housing accommodations through a local law or ordinance. The legislation aims to prevent potential housing displacement and speculative practices by maintaining affordable housing options for working individuals and families, recognizing the ongoing housing market challenges and the need to protect tenants from abrupt changes in housing regulations.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A3203