Bill Seeks to Apply Emissions Cap to Rent-Regulated Buildings
New York City Council’s Committee on Environmental Protection recently held a hearing on Intro. 1947, a bill that would amend Local Law 97, which requires applicable buildings to cap carbon emissions. Local Law 97 mandates a 40 percent reduction in citywide emissions by 2030 and 80 percent by 2050. To achieve these goals, most properties larger than 25,000 square feet must limit emissions based on the building type and size or pay huge fines.
Intro. 1947, sponsored by Queens Democrat Costa Constantinides, would amend Local Law 97 to include buildings where up to 35 percent of units are rent-regulated. Currently, Local Law 97 applies to approximately 50,000 buildings. If the bill is enacted, the addition of rent-regulated buildings would require thousands more buildings to become more fuel-efficient.