Wednesday is supposed to be the day New York state lawmakers adjourned their 2015 session, but their failure to reach a compromise on extending New York City’s rent regulations is sending them into overtime.
Lawmakers remain far apart on dueling proposals to renew the rent regulations that cover more than 1 million rent-controlled and rent-stabilized units in and around New York City. The law expired Monday at midnight when lawmakers couldn’t negotiate a deal to renew the rules.
Assembly Democrats want stronger protections for tenants. Senate Republicans want income verifications to ensure apartment dwellers deserve the benefit.
A simple extension of the existing rules remains a possibility.
Lawmakers are also negotiating the renewal of a lucrative tax break for New York City developers.
Lawmakers hope to adjourn later this week.
(AP)
1 Response
It’s time socialism is put to an end and rent regulations are eliminated. Let this expired rent law remain gone forever.