L.L. 2002/031

Enactment date: 10/25/2002

Int. No. 264-A

By Council Member Weprin, Clarke, Comrie, Davis, Dilan, Gennaro, Gerson, Gioia, Jackson, Jennings, Koppell, Lopez, Martinez, McMahon, Monserrate, Nelson, Perkins, Rivera, Sanders, Seabrook, Stewart, Vann, Yassky, Boyland and Brewer; also Council Members Quinn and Katz

A Local Law to amend the administrative code of the city of New York, in relation to the real property tax exemption for persons with disabilities whose incomes are limited due to such disabilities.

Be it enacted by the Council as follows:

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[Consolidated provisions are not included in this Appendix A]

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§ 4. This local law shall take effect immediately and shall apply to assessment rolls prepared on the basis of a taxable status date occurring on or after January 1, 2003.

L.L. 2002/036

Enactment date: 11/20/2002

Proposed Int. No. 67-A

By the Speaker (Council Member Miller), Council Members Sanders, Reed, Monserrate, Comrie, Addabbo, Baez, Barron, Boyland, Clarke, Davis, DeBlasio, Gioia, Jackson, Liu, Lopez, McMahon, Perkins, Quinn, Recchia, Rivera, Diaz, Dilan, Fidler, Felder, Foster, Gennaro, Katz, Koppell, Martinez, Nelson, Reyna, Seabrook, Serrano, Stewart, Vallone, Vann, Brewer, Gerson and the Public Advocate (Ms. Gotbaum); also Council Member Sears

A Local Law to amend the New York city charter and the administrative code of the city of New York, in relation to prohibiting the City from doing business with institutions that engage, directly or indirectly, in predatory lending practices, and to regulate the participation of home improvement contractors in the home-loan market.

Be it enacted by the Council as follows:

Section 1. Declaration of legislative findings and intent. The subprime lending industry has grown rapidly in the last few years, increasing almost tenfold since 1993. Assisted by unscrupulous mortgage brokers and home improvement contractors, some abusive subprime lenders aggressively market high-cost home loans that borrowers are unable to repay, and engage in other unfair or fraudulent credit practices that are stripping families and communities of the equity they have in their homes. These practices are commonly referred to as "predatory lending."

Predatory lending practices, as documented by the United States Departments of Housing and Urban Development and Treasury Task Force and other commentators, include, among other things: repeated refinancing of a loan without any tangible benefit to the borrower; charging excessive prepayment penalties; financing single-premium credit insurance; encouraging a borrower to default on his or her other debts; failing to comply with federal requirements with respect to the disclosure of loan terms and loan settlements; making a loan for more than the borrower can repay; financing excessive points and fees; requiring advance payments; charging fees to modify a loan or to defer payments; permitting acceleration of loans at lenders' discretion; and increasing interest rates upon default.

These practices can lock borrowers into high-rate loans even when they qualify for lower rates; strip equity from borrowers' homes; lead to impoverishment as borrowers pay thousands and tens of thousands of dollars in excessive costs, while owning less and less of their homes; and lead to increased foreclosures with profoundly damaging consequences for both families and neighborhoods.

Because of increased property values and home equity, some New York residents in low-income areas are "asset rich and cash poor" and are thus prime targets for predatory lending practices. In particular, it has been documented that subprime lending is heavily concentrated in lower-income and minority areas of the City of New York, which can lead to a significant economic drain on lower-income families and communities throughout the City.

The Council of the City of New York finds that the City should not encourage or support predatory lending, which damages the economic health of our City and its residents, by doing business with institutions that engage, directly or indirectly, in predatory lending practices. The Council finds that the City should not do business with institutions that adversely impact City revenues by siphoning resources from communities, thereby decreasing City sales and property tax revenues, and that increase City expenditures necessary to assist residents that are impoverished by predatory lending. The Council further finds that the City should not permit home improvement contractors to steer borrowers to specific lenders.

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[Consolidated provisions are not included in this Appendix A]

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Section 5. This local law shall take effect 90 days after its enactment.

L.L. 2002/037

Enactment date: 11/20/2002

Proposed Int. No. 156-A

By the Speaker (Council Member Miller) and Council Members Addabbo, Brewer, Comrie, DeBlasio, Diaz, Gennaro, Gerson, Koppell, Martinez, Monserrate, Nelson, Perkins, Quinn, Reyna, Sanders, Seabrook, Vallone and Liu; also Council Members Jackson, Gioia and Moskowitz

A Local Law to amend the administrative code of the City of New York, in relation to the procurement of energy efficient products.

Be it enacted by the Council as follows:

Section 1. Declaration of Legislative Findings and Intent. Recognizing the need for energy efficiency, the United States Environmental Protection Agency (EPA) and the United States Department of Energy (DOE) decided in 1992 to promote the purchase of energy efficient products through an innovative labeling program. The ENERGY STAR labeling program tags products that meet energy efficient criteria, and as a result, reduce overall energy use, lessening the amount of fossil fuel being burned by power plants, and the amount of greenhouse gases and other pollutants emitted into the atmosphere.

Through the ENERGY STAR program, manufacturers and retailers sign voluntary agreements allowing them to place ENERGY STAR labels on products that meet or exceed energy-efficiency guidelines set by the EPA and the DOE. Manufacturers and retailers may also use the label in product packaging, promotions and advertising for qualified products. Most ENERGY STAR labeled products have the same or better performance, features, reliability, and price as conventional models.

ENERGY STAR labeled office equipment saves energy by automatically entering a low-power mode when not in use. The energy-efficient models have all of the performance features of standard office equipment, but help to eliminate energy waste through special power management features. ENERGY STAR labeled office products use about half as much electricity as conventional office equipment, thereby significantly reducing energy costs.

The Council finds that the potential benefits associated with the procurement and use of Energy Star products are enormous and easily achievable. On June 10, 2001, the Governor issued an executive order requiring that "State agencies and other affected entities shall select Energy Star energy-efficient products when acquiring new energy-using products or replacing existing equipment." Executive Order No. 111, Section III, June 10, 2001. Given the cost savings alone, it makes fiscal sense for the City to do the same.

The Council finds that the City of New York should join New York State and lead other municipalities and New Yorkers by example in promoting the use of energy efficient products. Accordingly, the City in its role of market participant should, whenever possible, exercise its purchasing power to ensure that ENERGY STAR and other energy efficient products are acquired.

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[Consolidated provisions are not included in this Appendix A]

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§ 3. This local law shall take effect immediately.