26efdaaa__Standing_Committee_on_Housing__SUBJECT
[BILL #] A.2718 [SPONSOR] Sanders [SUBJECT] 
Would reform the manner in which owners of rent regulated buildings are compensated for major capital improvements (MCIs). In addition to improving the methodology for determining MCI rent increases, this bill would require that rent increases associated with MCIs be treated as a surcharge that would not become part of the legal regulated rent by which annual rent increases are calculated. This bill would also require that rent surcharges authorized for major capital improvements cease once the cost of the improvement has been recovered.
2003 Annual Report of the NYS Assembly Standing Committee on Housing
SUBJECT