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Rent Control Crisis Averted - For Now

By Newsradio 88 Staff

Negotiating against a midnight deadline, Governor Pataki and legislative leaders in Albany reached an agreement late Sunday night to extend state rent control laws, reports WCBS' Rich Lamb from Albany.

The tentative deal was announced just after the midnight expiration of the state's rent laws.

Rent regulation laws have been in force in one form or another since World War II. They apply to about 1.1 million apartments, most in the New York City area, housing more than 2.5 million people.

State Senate Majority Leader Joseph Bruno said early Monday that he would have his chamber approve the new legislation later Monday. The Democratic-led Assembly also planned to approve the plan Monday.