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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to housing, construction and community development
- Referred to judiciary
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.
Grants tenants relocation costs from the proceeds of a foreclosure sale
In Assembly Committee · Housing · Sponsor Karim Camara
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the real property actions and proceedings law, in relation to granting certain tenants the right to relocation costs from the proceeds of a foreclosure sale
Purpose
To provide relocation assistance for tenants whose property owner's property enters into foreclosure.
Summary of provisions
Section 1 amends 1354 of the real property actions and proceedings law by adding new subdivision 2-a regarding disbursing funds from the sale of the property to tenants whose leases have not expired, not to exceed $1,500. Section 2 states the effective date.
Justification
Securing housing options for NYS residents is crucial in this economic climate. The government needs to protect residents should their property owner's property go into foreclosure. As it stands finding affordable housing in NYS is difficult, this is especially the case when residents are unexpectedly displaced. However, there is no current law/statute in place to this effect. This bill would address the current situation by ensuring that part of the proceeds from the sale of any foreclosed property would be set aside to assist current lease holders with relocation assistance.
Legislative history
This is a new bill.
Fiscal implications
To be determined.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.