NY Lawmakers Introduce Small Business Rent Stabilization Bill

Sen. Salazar and AM Gallagher aim to protect small businesses from unaffordable rent hikes

Published on Feb. 25, 2026

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New York State Senator Julia Salazar and Assembly Member Emily Gallagher have introduced the "Small Business Survival Act", a bill that seeks to prohibit large rent increases and guarantee lease renewals for small businesses across the state.

Why it matters

Small businesses have faced significant challenges in recent years due to the economic impacts of the pandemic, rising costs, and competition from larger chains. This legislation aims to provide stability and protection for small businesses that are the backbone of many local communities.

The details

The "Small Business Survival Act" would limit rent increases to no more than 3% per year for small businesses and require landlords to renew leases unless there is a legitimate business reason not to do so. The goal is to prevent small shops and restaurants from being priced out of their neighborhoods due to skyrocketing rents.

  • The bill was introduced in the New York State legislature in February 2026.

The players

Sen. Julia Salazar

A New York State Senator representing parts of Brooklyn.

Assembly Member Emily Gallagher

A member of the New York State Assembly representing parts of Brooklyn.

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What they’re saying

“We must act now to protect the small businesses that are the lifeblood of our communities.”

— Sen. Julia Salazar, New York State Senator (wn.com)

“This legislation will give small businesses the stability they need to weather economic challenges and keep serving their neighborhoods.”

— Assembly Member Emily Gallagher, New York State Assembly Member (wn.com)

What’s next

The "Small Business Survival Act" will now go through the legislative process in the New York State Senate and Assembly, with a vote expected in the coming months.

The takeaway

This proposed rent stabilization bill aims to provide much-needed relief and protection for the small businesses that are the backbone of New York's local communities, helping them survive and thrive despite economic headwinds.