New York A01618 amends housing laws to penalize intentional withholding of housing accommodations from the market, including for future co-operative.

New York A01618 amends the administrative code of the city of New York and the emergency tenant protection act of 1974 to impose penalties on individuals who intentionally withhold housing accommodations from the market, including for future co-operative conversion. The bill declares that such practices, known as "warehousing," violate the right to housing and contribute to housing shortages. Penalties include a civil fine of $2,000 to $3,000 for the first offense and $10,000 to $11,000 for subsequent offenses or violations affecting multiple tenants.

New York A01618 amends housing laws to penalize intentional withholding of housing accommodations from the market, including for future co-operative.

New York A01618 amends the administrative code of the city of New York and the emergency tenant protection act of 1974 to impose penalties on individuals who intentionally withhold housing accommodations from the market, including for future co-operative conversion. The bill declares that such practices, known as "warehousing," violate the right to housing and contribute to housing shortages. Penalties include a civil fine of $2,000 to $3,000 for the first offense and $10,000 to $11,000 for subsequent offenses or violations affecting multiple tenants.