Increases penalties for owners of rent-regulated property who overcharge tenants.

New York S00467 amends the Emergency Tenant Protection Act of 1974 and the administrative code of the city of New York to increase penalties for owners of rent-regulated property found to have overcharged tenants. The bill imposes a penalty of five times the amount of the overcharge for all overcharges willfully collected by the owner starting six years before the complaint is filed. If the owner can prove the overcharge was not willful, the penalty is set at the amount of the overcharge plus interest.

Increases penalties for owners of rent-regulated property who overcharge tenants.

New York S00467 amends the Emergency Tenant Protection Act of 1974 and the administrative code of the city of New York to increase penalties for owners of rent-regulated property found to have overcharged tenants. The bill imposes a penalty of five times the amount of the overcharge for all overcharges willfully collected by the owner starting six years before the complaint is filed. If the owner can prove the overcharge was not willful, the penalty is set at the amount of the overcharge plus interest.