Bill > S05645

This bill prohibits individuals who own or manage more than four rental units within New York state from serving as public members on rent guidelines boards. Currently, rent guidelines boards in counties with cities under one million people and in New York City consist of nine members: two tenant representatives, two property owner representatives, and five public members with at least five years of experience in finance, economics, or housing. The bill amends existing laws to add a new restriction that prevents real estate investors with more than four rental properties from being appointed as public members, effectively reducing potential conflicts of interest. The changes apply to both state and New York City rent guidelines boards and will take effect thirty days after becoming law, with immediate application to public members currently serving on these boards. The bill also makes some minor technical updates, such as changing "chairman" to "chair" and updating gender-neutral language. The goal appears to be ensuring that public members of rent guidelines boards do not have significant personal financial interests in the rental property market that could influence their decision-making about rent regulations.

Government Affairs, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S5645