Albany — TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, issued the following statement on the anti-home-sharing bill that was signed into law by New York Governor Andrew Cuomo last week. The law imposes steep penalties on home-sharing hosts in New York State. The following can be attributed to Matthew Mincieli, TechNet’s executive director for Massachusetts and the Northeast.
“The anti-home-sharing bill that was recently signed into law poses a serious threat to the state’s technology sector and will have long-term negative impacts on New York’s economy. Even as other states develop commonsense regulations for home sharing, New York is taking a major step backward with this law.
The new legislation goes far beyond preventing abuse in the home-sharing economy and, instead, blocks tens of thousands of New Yorkers from responsibly using these innovative services to help make ends meet.
Since the law was approved, troubling comments from hotel industry executives demonstrate why it will stifle competition and thwart innovation. Mike Barnello, chief executive officer of LaSalle Hotel Properties, said the law “should be a big boost in the arm for the business…certainly in terms of the pricing.” This statement makes it clear that the new law puts home-sharing services at a severe disadvantage and sends an alarming message to entrepreneurs and small business owners that New York is hostile to new technology.
TechNet respectfully asks Governor Cuomo and the state legislature to approve new legislation in 2017 that allows New Yorkers to reap the benefits of the home-sharing economy while still punishing those who abuse it. In doing so, New York’s leaders will send a much needed signal to consumers, businesses, and the entire tech community that New York fosters and embraces innovation.”