Legislative Updates

Memo

The legislature is still on recess this week and will be returning for session on Monday, May 2nd. We believe the following issues will be a priority until the last day of session, June 20th

• Property Tax Cap: The Republican-led Senate has passed Cuomo's property tax cap which would be at two percent or the rate of inflation, whichever is lower. The Democratic-led Assembly has not. Some legislators say they are concerned that the state must relieve costly mandates on local governments and school districts before a property tax cap goes forward.
• Rent Regulations: Tenant advocates are pushing for the Legislature to not only extend the rent regulations but strengthen them by raising the rent at which apartments can be deregulated. Speaker Sheldon Silver has introduced a bill that would make it more difficult for landlords to raise rents, lower the allowable increases following renovations and increase the rent ceiling for stabilized apartments. These regulations sunset on June 15th.
• 421A Tax Incentive: This incentive benefits New York City developers and will most likely be coupled with rent regulations.
• Redistricting: Senate Majority Leader Dean Skelos has been under fire from Democrats for wavering recently on redistricting reform after Senate Republicans boastfully signed Ed Koch's pledge last year to agree to independent redistricting.
• Mandate Relief: Local governments are seeking relief, specifically in regards to pension reform, employee health benefits and reforming antiquated and redundant Civil Service rules.