ALBANY, NY-After tackling a $10-billion deficit and passing a $132.5-billion state budget in March, the next item on Governor Andrew Cuomo’s agenda is protecting New York’s rent regulation program. In a video address, Cuomo said the program will expire less than five weeks from now, urging state legislators to extend and strengthen the laws, which safeguard tenants in privately-owned buildings from illegal rent increases.
“We have recently made great progress in Albany by passing a good budget and passing it on time, and this state legislature--the 234th legislative session--has the opportunity to do even more and produce a record of real achievement for the people of this state: addressing New York’s rent laws is an important part of that agenda,” Cuomo announced yesterday.
The history of New York’s 65-year-old rent stabilization program goes back to the housing shortage following World War II, covering buildings constructed after 1947 and before 1974, according to the state’s Division of Housing & Community Renewal. Cuomo said more than one million people statewide are currently protected under the program, calling it a “crisis” if rent control were to be eliminated.
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