Legislation introduced in the City Council this week would cap the price for renting a Citi Bike to be competitive with the cost of the subway.

Under a bill introduced Thursday, Citi Bike’s parent company Lyft would be prohibited from charging more than the base fare of a subway ride to use an e-bike for up to an hour or to use a regular bicycle for up to two hours.

“It shouldn’t cost any more to take the subway than it should to ride a bike. It’s that simple. Bike share is an essential part of the New York City transit landscape. We need to make it affordable and accessible to all. The current pricing of our bike share program fails us,” Brooklyn Councilman Lincoln Restler, the bill’s sponsor, said.

Any potential change couldn't happen until the next round of contract negotiations between Lyft and the city. The current contract lasts until 2029.

Last month, Mayor Eric Adams expressed he’d be open to introducing more Citi Bike subsidies for low-income New Yorkers.

Citi Bike currently charges $4.79 for a single ride up to 30 minutes, then 36 cents for each additional minute. Day passes and an annual membership are also offered — around 127,000 New Yorkers are Citi Bike members.

Lyft reported 66% of all bike trips were made on e-bikes last month. The company says e-bikes are expensive to maintain, which is why riders saw a fare increase earlier this year.

“It should be encouraged for people to get active, be on bicycle. I have my own bike, but also use e-bike and Citi Bikes,” Say Sanchez said.