N.Y.C. Admin. Code § 20-108: § 20-108 License terms.

a. The commissioner shall establish by regulation the expiration date of licenses issued pursuant to chapter two.

b. Licenses issued pursuant to chapter two shall be for a two-year term unless otherwise specifically provided for in chapter two; provided, however, that whenever the commissioner changes the expiration date of a type of license pursuant to subdivision a of this section, he or she may also increase or decrease the term of such type of license by rule to the extent necessary to effectuate the change.