S 450: Prohibits landlords from including incorrect information relating to rent decontrol in certain leases and renewals thereof; imposes a violation punishable by a fine of $1000 for a violation by a landlord; requires the standardization of certain notices pertaining to units subject to the Affordable New York Housing Program.

  
  STATE OF NEW YORK ________________________________________________________________________ 450 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. HOYLMAN-SIGAL -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property tax law, in relation to prohibiting landlords from including incorrect information relating to rent decon- trol in certain leases and renewals thereof and requires the standard- ization of certain notices pertaining to units subject to the Afforda- ble New York Housing Program The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (ii) of paragraph (f) of subdivision 2 of 2 section 421-a of the real property tax law, as amended by chapter 289 of 3 the laws of 1985, is amended to read as follows: 4 (ii) with respect to units which become subject to the provisions of 5 this section after the effective date of this subparagraph, such tax 6 benefit period as provided in the opening paragraph of this paragraph or 7 applicable law or act shall have expired and either each lease and 8 renewal thereof for such unit for the tenant in residence at the time of 9 such decontrol has included a notice in at least twelve point type 10 informing such tenant that the unit shall become subject to such decon- 11 trol upon the expiration of such tax benefit period as provided in the 12 opening paragraph of this paragraph or applicable law or act and states 13 the approximate date on which such tax benefit period as provided in the 14 opening paragraph of this paragraph is scheduled to expire; or such unit 15 becomes vacant as provided under subparagraph (i) of this paragraph. 16 Neither a landlord nor any person acting on behalf of the landlord shall 17 include incorrect or misleading information in any notice provided 18 pursuant to this subparagraph. A landlord or any person acting on 19 behalf of the landlord who willfully includes information they know or 20 reasonably know to be misleading or incorrect information in any notice 21 provided pursuant to this subparagraph or fails to provide the standard- EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01952-01-5 
 S. 450 2 1 ized rider pursuant to paragraph (f-1) of this subdivision is guilty of 2 a violation punishable by a fine of one thousand dollars. 3 § 2. Subdivision 2 of section 421-a of the real property tax law is 4 amended by adding a new paragraph (f-1) to read as follows: 5 (f-1) The commissioner of housing and community renewal shall stand- 6 ardize the notice to be provided by landlords to their tenants pursuant 7 to subparagraph (ii) of paragraph (f) of this subdivision. Such notice 8 shall be printed in at least twelve point type and shall include but not 9 be limited to the following language: 10 421-a Standard Rider Fact Sheet 11 Any dwelling unit within an eligible site that receives tax benefits 12 under section 421-a of the New York State Real Property Tax Law will 13 remain rent stabilized for a period of time depending on a variety of 14 factors, including the location of the unit, the commencement of 15 construction and the affordability in the project. Failure to provide 16 the initial standardized rider may result in the unit remaining rent 17 stabilized for the duration of the tenancy. Specific details related to 18 your unit are listed on the next sheet. While your unit receives 421-a 19 tax benefits, it will be subject to rent stabilization. New York State's 20 rent regulation laws provide tenants in rent-stabilized apartments with 21 a variety of legal rights and protections. The owner of your building 22 must provide you with a rent-stabilized lease when you first move in and 23 also each time you renew your lease for your choice of either a one or 24 two year term, for as long as your apartment remains stabilized. 25 You are entitled to continuous lease renewals while your apartment is 26 rent stabilized. When you renew your lease, your rent may only be 27 increased by an amount determined by New York State's rent regulation 28 laws, which may be found by visiting (enter web address), and permitted 29 by applicable tax benefit laws. 30 Rent increases for rent-stabilized tenants are determined by the New 31 York City Rent Guidelines Board, and generally, may only increase by a 32 specified amount within a one-year or two-year lease term. For more 33 information, please visit (enter web address) or call (enter number). 34 Rent-stabilized tenants are also entitled to assistance by the New York 35 State Homes and Community Renewal by visiting (enter web address) or 36 calling (enter number). 37 421-a Rider - Unit Number 38 As a rent-regulated tenant, your rights are, in part, determined by 39 421-a of the New York State Real Property Tax Law. For more information, 40 you may contact New York State Housing and Community Renewal by calling 41 (enter number) or visiting (enter web address) or the New York City 42 Department of Housing Preservation and Development by calling (enter 43 number) or visiting (enter web address). 44 The first rent as of (date of initial lease commencement) for (unit 45 apartment number) is (amount). 46 Because (unit number) receives a 421-a tax abatement, it will be rent 47 regulated until at least MM/DD/YYYY. 48 Construction commenced on your building, located at (address) on 49 MM/DD/YYYY. 50 Construction was completed on MM/DD/YYYY. 51 On (MM/DD/YYYY specific to tenant), your landlord can begin to increase 52 the rent for unit number by 2.2% each year. 53 The 421-a benefits for (unit number) expire on (MM/DD/YYYY). After the 54 expiration of the 421-a tax abatement, your unit will ___ (either remain 55 rent-stabilized for the duration of your tenancy or continue to be 56 protected due to additional programs outlined below). 
 S. 450 3 1 (Unit number) also receives (list any other city, state, federal 2 affordability program) and (the impact that has on the unit's continuing 3 affordability, the date on which those benefits expire and the impact of 4 the expiration of those benefits on the unit). 5 If you believe that any of the information contained in this rider is 6 incorrect, contact New York State Homes and Community Renewal by calling 7 (enter number) or visiting (enter web address) or the New York City 8 Department of Housing Preservation and Development by calling (enter 9 number) or visiting (enter web address). 10 § 3. This act shall take effect on the sixtieth day after it shall 11 have become a law and shall apply to all leases entered into, renewed or 12 extended on and after such effective date. Effective immediately the 13 addition, amendment and/or repeal of any rule or regulation necessary 14 for the implementation of this act on its effective date are authorized 15 to be made and completed on or before such date.