Establishes a commercial rent stabilization system in New York City.

The bill enacts the "New York City Small Business Rent Stabilization Act," which establishes a commercial rent control system in New York City. It creates a Commercial Rent Guidelines Board to set guidelines for rent adjustments. Landlords must register commercial spaces and cannot charge rents exceeding the legal regulated rent. The board considers economic conditions, market values, and demographic changes when setting guidelines. Penalties apply for overcharging tenants and failing to register commercial spaces.

Establishes a commercial rent stabilization system in New York City.

The bill enacts the "New York City Small Business Rent Stabilization Act," which establishes a commercial rent control system in New York City. It creates a Commercial Rent Guidelines Board to set guidelines for rent adjustments. Landlords must register commercial spaces and cannot charge rents exceeding the legal regulated rent. The board considers economic conditions, market values, and demographic changes when setting guidelines. Penalties apply for overcharging tenants and failing to register commercial spaces.