Bill
S 864
Overview: S 864, a bill that caps the amount of collectible rent increases due to major capital improvements at six percent of the legal regulated rent, was introduced in the Senat
Overview: S 864, a bill that caps the amount of collectible rent increases due to major capital improvements at six percent of the legal regulated rent, was introduced in the Senate on March 05, 2025 and referred to the Committee on Housing, Construction and Community Development.
Purpose and Intent: The bill aims to address concerns about the impact of major capital improvement (MCI) rent increases on tenants in rent-regulated housing, seeking to limit the financial burden on these residents.
Key Provisions:
- Caps the amount of collectible rent increases due to MCIs at 6% of the legal regulated rent
- Requires landlords to provide detailed documentation and justification for MCI rent increases
- Establishes a process for tenants to challenge proposed MCI rent increases
Affected Parties and Impacts: The legislation would primarily benefit tenants in rent-regulated housing, who may face more affordable rent increases due to MCIs. Landlords, however, may face limitations on their ability to recoup the full costs of capital improvements through rent increases.
Procedural and Timeline Considerations: S 864 has been referred to the Senate Committee on Housing, Construction and Community Development, where it will undergo review and potential amendments before a vote by the full Senate. If passed by the Senate, the bill would then move to the House for consideration.
Compiled from official sources — confirm details with the bill’s official record.
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