S T A T E O F N E W Y O R K ________________________________________________________________________ 8125 I N S E N A T E March 23, 2020 ___________ Introduced by Sens. GIANARIS, BIAGGI, CARLUCCI, FUNKE, HOYLMAN, JACKSON, LIU, MONTGOMERY, PARKER, PERSAUD, RAMOS, SALAZAR, STAVISKY -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to suspend rent payments and certain mortgage payments for certain residential tenants and small business commercial tenants for ninety days in response to the outbreak of coronavirus THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. (a) Notwithstanding any other provision of law, rule or regulation to the contrary, any residential tenant or small business commercial tenant in the state that has lost income or has been forced to close their place of business as a result of government ordered restrictions in response to the outbreak of coronavirus disease 2019 (COVID-19), shall have all rent payments suspended for ninety days following the effective date of this act. Such residential tenant or small business commercial tenant shall not and shall never be required to pay any rent waived during such time period. Every residential or small business commercial tenant whose lease expires during this time period shall be subject to an automatic renewal lease at the current rent charged. Late fees shall not be collectable for rent accrued during this time period. (b) (i) Any person who faces a financial hardship as a result of being deprived rent payments for a covered property pursuant to this section shall receive forgiveness on any mortgage payments for such covered property in an amount determined by the following fraction multiplied by such mortgage payment, up to the total dollar amount of lost rent: (A) The numerator shall be the total amount of rent payments suspended for his or her tenants over the ninety day period laid out in this section; and (B) The denominator shall be the total amount of rent payments typi- cally owed for such entire property over the ninety day period laid out in this section. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.