NEW YORK (FOX 5 NY) - Legislative leaders in Albany have reached a deal to extend rent protections to millions of New York City residents.
Senate Majority Leader Andrea Stewart-Cousins said leaders are finalizing the deal on the state's law that governs about 1 million rent-stabilized apartments located in older, multi-dwelling buildings in New York City and a few other localities.
The law, which expires June 154, regulates how much a landlord may raise the rent and also restricts evictions.
Lawmakers struck a deal on bills that would make the rent law stronger and permanent, The Wall Street Journal reported. The deal will also allow other cities and towns to pass rent regulations.
Democrats control both the Assembly and the Senate.
Gov. Andrew Cuomo, also a Democrat, has said he will sign any bill the legislature passes.