NYC Council Introduction 537

intro.nyc/0537-2024 2024-2025 Legislative Session
Requiring a clause in commercial leases that obligates the parties to engage in good faith negotiations during certain states of emergency.
Status: Committee Committee on Small Business
Sponsored by Justin L. Brannan
Introduced: March 7, 2024

This bill would require parties, contracting to rent commercial property or with existing commercial leases, to engage in “good faith” efforts to negotiate toward a rent concession if the tenant’s business is required to close pursuant to an order issued as a result of a state of emergency.