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S 8319

Enacts the "New York city small business rent stabilization act"

2025 Regular Session Introduced by Julia Salazar

Summary of S 8319 - New York City Small Business Rent Stabilization Act OverviewThis bill, titled the "New York City Small Business Rent Stabilization Act," aims to provide rent st

REFERRED TO RULES
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Bill Summary · S 8319

Summary of S 8319 - New York City Small Business Rent Stabilization Act

Overview

This bill, titled the "New York City Small Business Rent Stabilization Act," aims to provide rent stabilization protections for small businesses operating in New York City. The key purpose of the legislation is to help mitigate the burden of rising commercial rents and prevent the displacement of small businesses.

Key Provisions

  • Establishes a Small Business Rent Guidelines Board to set annual rent adjustment guidelines for qualifying small business commercial leases.
  • Requires landlords to offer qualifying small business tenants lease renewals with rent increases capped at the guidelines set by the Rent Guidelines Board.
  • Defines "qualifying small businesses" as those with fewer than 100 employees and less than $10 million in gross annual revenue.
  • Prohibits landlords from refusing to renew a lease or substantially increasing rent for a qualifying small business tenant without "good cause."
  • Grants small business tenants the right to appeal excessive rent increases or lease non-renewals to the New York City Department of Housing Preservation and Development.
  • Requires landlords to provide advance written notice to small business tenants before the expiration of their lease.

Affected Parties

The primary groups impacted by this bill would be:

  • Small businesses in New York City, particularly those facing challenges with rising rents and the threat of displacement.
  • Commercial property owners and landlords who rent to small business tenants in the city.
  • Consumers who rely on the availability of diverse small businesses in their neighborhoods.

Timeline and Procedure

This bill was introduced in the New York State Senate on June 2, 2025 and has been referred to the Rules Committee. If enacted, the provisions of the "New York City Small Business Rent Stabilization Act" would take effect 120 days after becoming law.

Compiled from official sources — confirm details with the bill’s official record.

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