N.Y.C. Admin. Code § 26-405

Citation
N.Y.C. Admin. Code § 26-405
Source
Official source
Original Source
https://codelibrary.amlegal.com/codes/newyorkcity/latest/NYCadmin/0-0-0-206052 ↗

Related Parts of This Source

Full Text

1,002 chars 
§ 26-405 General powers and duties of the city rent agency.

a. (1) At the time this chapter shall become effective, the city rent agency shall establish maximum rents which, subject to the provisions of subdivision b of this section, shall be the maximum rents in effect on April thirtieth, nineteen hundred sixty-two pursuant to the state rent act and the regulations thereunder.

(2) (a) Notwithstanding the foregoing provision of this subdivision, and except as provided in subparagraph (b) of this paragraph two, effective August first, nineteen hundred seventy, the maximum rent in effect on July thirty-first, nineteen hundred seventy shall be adjusted as follows:

(i) For any individual housing accommodation for which one or more but less than two full fifteen per centum rent increases has been granted since May first, nineteen hundred fifty-three pursuant to former subparagraph (d) of paragraph one of subdivision g of this section the maximum rent shall be increased by eight per centum.