•  Summary 
  •  Actions 
  •  Committee Votes 
  •  Floor Votes 
  •  Memo 
  •  Text 
  •  LFIN 
  •  Chamber Video/Transcript 

A01778 Summary:

COSPNSRHunter, Steck, Stirpe, Jean-Pierre, Jacobson, Jones, DeStefano, DiPietro, Brabenec, Burdick, Stern, Santabarbara, Bendett, Glick, Beephan, Lemondes, Gallahan, Cunningham, Kelles
Add Art 11 360 - 366, RP L
Enacts the "fairness in cooperative homeownership act"; regulates the submission and determinations of applications for ownership of cooperative apartments.
Go to top

A01778 Memo:

submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A1778A             Revised 4/27/2023
SPONSOR: Lavine (MS)
  TITLE OF BILL: An act to amend the real property law, in relation to the timing of decisions for the sales of cooperative apartments   PURPOSE OR GENERAL IDEA OF BILL: This bill would ensure that the process of purchasing cooperative hous- ing is fair and transparent by adding uniformity and predictability to the application process.   SUMMARY OF PROVISIONS: Section one provides the legislative intent of the bill. Section two adds a new article 11 to the Real Property Law. The new article 11 establishes definitions, requires that the board of directors or managing agent of each cooperative corporation shall maintain a standardized application and list of requirements for all cooperative apartments subject to the by-laws or proprietary lease of such corpo- ration, and establishes a process for prospective purchasers to submit an application, and for cooperative corporations to acknowledge receipt. and to notify the prospective purchaser whether the application is complete. Article 11 also requires that the cooperative corporation notify an applicant whether consent to a sale is granted or denied with- in 45 days, providing the reason for denial if the application is denied, and establishes the tolling of time, Which provides for a longer timeframe for coop board response during summer months as boards often meet less frequently during this time. Section three sets forth the effective date.   JUSTIFICATION: Residential cooperative purchasers are subject to processes and condi- tions that do not also apply to purchasers of other single-family resi- dences. These processes and conditions have the potential to be misused against a purchaser of cooperative housing. Because New York State strongly opposes all illegal discrimination and promotes fair housing laws and regulations, it is essential that the process for purchasing a cooperative dwelling include the additional safeguards of this bill.   PRIOR LEGISLATIVE HISTORY: 2021-22 S2846 (Kavanagh) / A5856 (Lavine) - judiciary/housing 2019-20: S4677 (Kavanagh) / A6194 (Lavine) - judiciary/housing 2018: S7523 (Hannon)/A10084 (Lavine) - Referred to Judiciary/Referred to Housing   FISCAL IMPLICATIONS FOR STATE AND LOCAL GOVERNMENTS: None to the state.   EFFECTIVE DATE: This act shall take effect 120 days after it becomes law and shall apply to applications submitted and received on or after such date, provided that the Commissioner of the New York State Division of Human Rights may take any actions necessary prior to such effective date for the imple- mentation of this act, including but not limited to establishing guide- lines and promulgating rules.
Go to top