The Latest: Mayor signs bill capping new ride-hail licenses
The Latest on the signing of a New York City bill that places a temporary cap on new licenses for app-based rides (all times local):
4:40 p.m.
New York City, the largest American market for Uber, is becoming the first U.S. city to regulate the growth of app-based rides.
Democratic Mayor Bill de Blasio has signed a bill on Tuesday placing a temporary cap on new licenses.
No new licenses will be granted for a year, with the exception of wheelchair accessible vehicles.
The legislation package also will allow the city to set a minimum wage for app-based drivers.
Proponents say both the traditional yellow cab industry and drivers for app-based services have been suffering economically as for-hire cars flood increasingly congested streets.
Opponents say Uber and Lyft provide much-needed service to areas that are underserved by traditional taxis.
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9:20 a.m.
Drivers for ride-hailing services lined up for hours to register their cars before New York City enacts a temporary cap on new licenses.
The New York Times says hundreds of drivers jammed an Uber office on Monday to get their paperwork in order.
Democratic Mayor Bill de Blasio has said he is planning to sign the bill into law on Tuesday.
Once the legislation becomes law, no new licenses will be granted for a year, with the exception of wheelchair accessible vehicles.
New York City is the largest American market for Uber and is now the first U.S. city to attempt to regulate the growth of app-based rides.
Opponents of the legislation say Uber and Lyft provide much-needed service to areas outside of Manhattan that are underserved by traditional taxis.
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Information from: The New York Times, http://www.nytimes.com
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Information from: The New York Times, http://www.nytimes.com