For the purposes of this chapter:
Department. The term "department" means the department of housing preservation and development.
Rent registration requirement. The term "rent registration requirement" means any requirement that one or more dwelling units within a building receiving benefits under section 421-a of the real property tax law be fully subject to rent stabilization for a prescribed period, including, but not limited to, the requirement that such units be registered as rent stabilized with the state division of housing and community renewal.
Rent Stabilization. The term "rent stabilization" means, collectively, the rent stabilization law of 1969, the rent stabilization code, and the emergency tenant protection act of 1974, together with any successor statutes or regulations addressing substantially the same matter.
(L.L. 2017/194, 10/16/2017, eff. 10/16/2018)
The department shall audit no fewer than 20 percent of all buildings that have completed construction and are receiving benefits under section 421-a of the real property tax law annually to determine whether the owners of such buildings are in compliance with all applicable rent registration requirements.
(L.L. 2017/194, 10/16/2017, eff. 10/16/2018)
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