Bill > S03208

This bill proposes to repeal paragraphs 3 and 4 of subdivision a of section 26-405 in the New York City Administrative Code, which are related to the method of establishing maximum base rents for buildings using the maximum gross building rental formula. The bill would eliminate specific provisions that currently govern how maximum base rents are calculated, likely simplifying or changing the existing rent regulation mechanism. By repealing these specific paragraphs, the legislation could potentially impact how rental rates are determined for certain types of housing in New York City. The bill is straightforward in its approach, seeking to remove these specific rental calculation provisions, and includes a provision for immediate effect upon passage. While the exact details of the current rental calculation method are not provided in the bill text, the repeal suggests a potential shift in how maximum base rents are established in the city.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S3208