Lawmakers could extend rent regulation deadline by two days

Other issues still unresolved include the 421a tax abatement and the investment tax credit

TRD New York /
Jun.June 15, 2015 08:30 AM

Lawmakers are hoping to push the expiration of rent regulations, originally scheduled for today, to Wednesday at midnight.

Assembly Speaker Carl Heastie said he’d consider approving the two-day extension, according to Capital New York. It’s unclear if Governor Andrew Cuomo and Senate Republican leader John Flanagan would follow suit.

“We’re just talking, talking, talking, talking,” Assemblyman Joe Morelle said during a conference with his Democratic colleagues, according to Capital. “Everything’s been said, it’s just that not everybody has said it.”

The governor is hopeful he will broker a deal that will include rent regulations and the 421a tax abatement and tie it in with a tax credit for educational expenditures, an increase in the cap on charter schools, criminal justice reforms, mayoral control of New York City schools and $100 million to help the state’s distressed school districts, the website reported.

“The way it works in the legislative session, nothing moves until everything moves,” Cuomo reportedly said during a rally in Albany. “It’s a hard concept to communicate. There are 10 or 12 key items, among both houses. They’re working through to get agreement, and then they’ll wind up with a global agreement, and everything moves at the end, hopefully.” [Capital NY] — Claire Moses

Related Articles

Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies

Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws

Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws

Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)

New NYC rent law “beginning to shut down investment”

The total dollar value of deals in 2019 dropped 40 percent from the year before to $6.91 billion (Credit: Unsplash)

Multifamily market had its worst year since 2011

Brooklyn State Senator Julia Salazar (Credit: iStock, Getty Images)

Support growing in state legislature for “good cause” eviction

From left: Bruce Molser, David Schechtman, Bob Knakal, David Greenbaum, and Judi Pulice

New York’s real estate bigwigs offer predictions for 2020

Investment sale dollar volume in Brooklyn fell 30% in 2019, the biggest drop since the financial crisis. (Credit: iStock)

Brooklyn i-sales see biggest drop since financial crisis

Rent overcharge claims against landlords are on the rise (Credit: iStock)

Rent overcharge cases pile up