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Sponsors
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History
- Referred to housing
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Requires applications to purchase condominiums or cooperatives to be acted upon within forty-five days, failure to do so results in automatic approval
In Senate Committee · Judiciary · Sponsor Dean G. Skelos
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10731
Title of bill
An act to amend the real property law, in relation to cooperative purchase applications
PURPOSE:; This bill would ensure that the process of purchasing cooper- ative housing is fair, transparent and does the utmost to protect against illegal discrimination.
Summary of provisions
Section 1 amends the Real Property Law by adding a new article II that will increase the transparency of the Cooperative purchase process to the benefit of all parties involved in the trans- action.
Justification
Residential cooperative purchasers are subject to proc- esses and conditions that do not also apply to purchasers of other single family residences. These processes and conditions give the appearance and have the potential to be misused to illegally discrimi- nate against a purchaser of cooperative housing. Because NYS strongly opposes all illegal discrimination and promotes fair housing laws and regulations, it is essential that the process for purchasing a cooper- ative dwelling include the additional safeguards of this bill to protect against illegal discrimination.
Legislative history
Passed Assembly in 1996 and 1997
Existing law
There is currently no law to specifically safeguard coop- erative purchasers from illegal discrimination.
FISCAL IMPLICATIONS:; None to the state.
Effective date
This act shall take effect on the sixtieth day after it shall have become a law and shall apply to applications submitted and received on or after such date.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.