Comptroller Levine emphasized that the Adams Administration’s FY26 spending levels, which exceed revenue, and failure to properly budget for known, re-occurring expenses, have led to unusually high budget deficit projections for FY26 and FY27.
Currently, localities must conduct a survey of rental housing they propose to regulate and demonstrate that the vacancy rate is below 5%. This bill leaves that option in place, but creates an alternative method.
Legislation S.8203/A.8427-A extends temporary permits to more New York City businesses. Legislation S.9685/A.7116 doubles the duration of temporary permits at the same cost.
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