A Compliance-With-Laws Carve-Out for Future Laws Misses Local Law 97 by Five Years
New York City published its first year of Local Law 97 enforcement data in September 2026: 470 buildings over their carbon cap and $270,150 in penalties. Around 57% of covered buildings are projected to miss the 2030 caps. Whether the owner or the tenants pay turns on an operating expense clause, and on whether its compliance-with-laws language is limited to laws enacted after the lease was signed.