From the Daily News:
Rent protections for thousands of higher-income city residents would be gutted under a bill quietly introduced by Senate Republicans last week.
The bill sponsored by Senate Housing Committee Chairwoman Catharine Young (R-Cattaraugus County) would ease the requirement that rents must reach $2,000 a month before an apartment can be deregulated.
"This is nightmare legislation for tenants," said Travis Proulx, a spokesman for the Senate Democratic Conference. "It strikes at the heart of efforts to preserve affordable housing."
Current laws dictate that rent-stabilized apartments can be deregulated when rents reach $2,000 and tenants' income exceeds $175,000 for two consecutive years.
Young's bill would eliminate the rent threshold and allow deregulation if the tenant's income averaged $175,000 over two years.
Assembly Democrats want to raise the de-control trigger to $3,000 monthly rent and $300,000 in annual income.
Yes, I know what you're thinking... WHY THE HELL DO PEOPLE MAKING 200,000 NEED RENT CONTROLLED APARTMENTS AND WHY DO SOME WANT TO RAISE THE LIMIT TO 300,000?