I am glad that this bill was signed because I'm tired of having people in my building who I don't know and do not trust. Everyone in my coop is vetted by the Board of Directors before living here - why should AirBnb users be any different?
Additionally, some of the people who have been caught AirBnBing are original members of the coop, so no vetting was required 30+ years ago.
Interestingly, instances of Airbnbing went down significantly after all residents were sent reminders that they could lose their proprietary leases if they were caught running hotels out of their respective apartments.