Establishes a tax rebate program for rent-stabilized housing that targets buildings with individually occupied rent-stabilized apartments where the property tax burden significantly exceeds rental income.
Amends the composition of rent guidelines boards and the factors to be considered in establishing annual rent adjustments; eliminates the price index of operating costs as a factor in determining rent increases.
Amends the composition of rent guidelines boards and the factors to be considered in establishing annual rent adjustments; eliminates the price index of operating costs as a factor in determining rent increases.