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Rent Stabilization Laws Expire

As of Monday night, rent regulation laws officially expired and lawmakers still haven't reached an agreement. However, Gov. Cuomo has made it clear that landlords who try to take advantage of the situation will face legal repercussions. Just like in 2011, the law that does pass will be retroactive, CBS Local News reports. On Friday, the Senate introduced legislation to extend the rules by eight years, while tightening rules on verifying tenants' income eligibility. Cuomo's issue is that it introduces new obstacles for tenants. Last month, the state Assembly voted to extend rent stabilization rules by four years and make it more difficult for landlords to increase rent on vacant, rent regulated units. Mayor de Blasio supports the Assembly's bill. Lawmakers are supposed to go on break today, but Cuomo says he won't let them leave without a deal. [WCBS]