Pataki to Sign Rent Bill

New York 1 Cable, June 20, 1997

Governor Pataki is likely to make it official today. New York State will have a new rent law. Pataki should sign the bill passed yesterday by the State Senate and Assembly.

The Democratic controlled Assembly passed the measure 93 to 53. The final tally in the Republican led Senate was 59 to 1.

Pataki says, "this is a historic bill and it really constitutes sweeping change yet at the same time protects tenants under a system that they've depended on for fifty years... and achieving that balance and achieving all the actual language, the technical language to make sure that this works was not an easy task."

Assembly Speaker Sheldon Silver says the measure is a victory for tenants because there will be no vacancy decontrol. And the Rent Stabilization Board, which represents landlords, says the measure does provide some relief for property owners, but doesn't go far enough.

The new laws will stay in effect for six years.