ALBANY, N.Y. (WROC) — A bill in the New York State Senate would suspend rent payments for certain residential tenants and small business commercial tenants for 90 days in response to the outbreak of COVID-19.
The bill, S8125, is sponsored by State Sen. Michael Gianaris (D-12). The bill is currently listed as in committee, and has several co-sponsors.
According to the bill’s summary:
“Suspends all rent payments for certain residential tenants and small business commercial tenants if such tenant has lost employment or was forced to close their place of business and certain mortgage payments for landlords of such tenants in the state for ninety days following the effective date of this act in response to the outbreak of coronavirus disease 2019 (COVID-19).”
Last week, Gov. Cuomo announced measures enacted for financial relief amid the pandemic, including:
- 90-day mortgage relief
- Waive mortgage payments based on financial hardship
- No negative reporting to credit bureaus
- Grace period for loan modification
- No late payment fees or online payment fees
- Postponing or suspending foreclosures
- Waive fees for overdrafts, ATMs, and credit cards