State lawmakers on Monday were considering a two-day extension of rent regulations covering more than 2 million tenants in and around New York City as they faced a midnight deadline to renew the law.
The Assembly’s Democratic majority, who on Monday passed a 48-hour extension, wants to keep the regulations if the apartments become vacant. The Senate’s Republican leaders want tougher income eligibility verifications to ensure tenants qualify.
Gov. Andrew Cuomo is seeking to tie a strengthened rent law with the Assembly going along with his education tax credit. This grand bargain would give parents of yeshivah students the first real tuition assistance in decades while giving progressives an achievement at the same time.
The immediate impact of a lapse in the rules would likely be minor. Landlords must give notice to tenants about rent increases or evictions, and Cuomo vowed to go after landlords who exploit the law’s expiration. And whatever deal lawmakers agree to would likely be made retroactive.