Legislators Propose Bill to Eradicate MCI Rent Hikes
State Senator Michael Gianaris and State Assembly Member Brian Barnwell have introduced legislation that would completely eradicate the MCI program. The proposed legislation represents a change from a previous piece of legislation that was introduced by Gianaris and Barnwell, which called for reforming the MCI program and extending protections to tenants who were subject to increases due to apartment renovations. The previous legislation did not advance.
The new bill calls for “a complete elimination of the program” as well as a rollback of any rent hikes tied to MCIs that were issued within the last seven years, and refunds to tenants affected by those increases. Co-sponsors of the new bill include Senators Jessica Ramos and John Liu, both of whom were elected in the 2018 midterms.