New York A08533 amends rent guidelines boards' composition and factors for rent adjustments, removing operating costs as a factor.

New York A08533 amends the administrative code and the emergency tenant protection act to change the composition of rent guidelines boards and the factors considered in establishing annual rent adjustments. It removes the price index of operating costs as a factor in determining rent increases. The bill also modifies the appointment process for board members, requiring public members to have experience in specific fields. Additionally, it mandates public hearings and virtual testimony acceptance, and requires owners to submit annual income and expenditure reports.

New York A08533 amends rent guidelines boards' composition and factors for rent adjustments, removing operating costs as a factor.

New York A08533 amends the administrative code and the emergency tenant protection act to change the composition of rent guidelines boards and the factors considered in establishing annual rent adjustments. It removes the price index of operating costs as a factor in determining rent increases. The bill also modifies the appointment process for board members, requiring public members to have experience in specific fields. Additionally, it mandates public hearings and virtual testimony acceptance, and requires owners to submit annual income and expenditure reports.