The new law says those who advertise sub-30 day whole apartment rentals can be fined as much as $7,500. It piggybacks on existing legislation that prohibits whole apartments from being rented for less than a month.
The bill was approved by the state Senate and House in June, but the governor just signed off on it today. Airbnb’s public policy head says the company plans to file a lawsuit, claiming the new law violates both the First Amendment and the Communications Decency Act, according to Business Insider. TechNYC, an organization that launched this year to help tech companies navigate the state’s legal issues, also appears to be at the ready to try and scale back the new measure.
Despite today’s news, we’re confident that NYers will come together to find a real, comprehensive plan that lets homesharing thrive in NY.
— Tech:NYC (@TechNYC) October 21, 2016
While TechNYC may be hoping to reach some sort of compromise, it looks like Airbnb is making good on its threat to sue.