Interesting analysis via Daily News' political blog:
Crain's Insider boiled down Laufer's hypothesis this morning thusly:
"The state's Municipal Home Rule Law requires a referendum to change the composition of a legislative body...The clause didn't come up in the Council's 2003 tweak of term limits but did spur the 1996 referendum for a third term."
"Lauder says the clause could lead the courts to reject an extension for the Council, but uphold one for the mayor comptroller, public advocate and borough presidents."
They also report that Tom Golisano will replace Ronald Lauder as the anti-term limit change billionaire.
Oh, and the Bloomberg administration stacked up speakers at the hearing. And they've been making lots of phone calls.
And the above poll was conducted by NY1 and Baruch College and shows that the voters like things the way they are and believe they should be the ones to decide on any changes.