Council Committee Holds Hearing on Rent Stabilization Extension [UPDATE: Legislation Passes Council]
Council Member Jumaane D. Williams hears testimony on strengthening rent regulation laws. Image credit: William Alatriste/New York City Council
Legislation would extend rent stabilization laws for three years and call on state legislature to strengthen existing laws. On March 2, 2015 the City Council Committee on Housing and Buildings held a public hearing on Intro 685, a proposed law to amend the city’s administrative code and extend New York City’s existing rent stabilization laws. Intro 685 declares the existence of a “housing emergency”, where the city’s vacancy rate drops below 5 percent, and the declaration is required under the New York City Rent Stabilization Law to extend rent stabilization.
