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S5644Senate2015-2016 SessionSame asA1120

Requires applications to purchase condominiums or cooperatives to be acted upon within forty-five days, failure to do so results in automatic approval

Sponsor Kemp HannonSD-6+1 co-sponsorAffects Housing
Status
In Assembly Committee
Housing
Impact
Pending
Passage
Pending

Bill progress

Step 5 of 7

In Assembly · Housing

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Who cares

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Sponsors

Primary sponsor
Kemp Hannon

Senator · Senate District 6

Chair, Health

History

  1. Referred to housing
  2. Delivered to assembly
  3. Passed senateVote 59–2
  4. Ordered to third reading cal.1618
  5. Committee discharged and committed to rules
  6. Referred to judiciary
  7. 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.

A1120Assembly

Requires applications to purchase condominiums or cooperatives to be acted upon within forty-five days, failure to do so results in automatic approval

In Assembly Committee · Housing · Sponsor Charles Lavine

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S5644

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 cooperative 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 transaction.

Existing law

There is currently no law to specifically safeguard cooperative purchasers from illegal discrimination.

Justification

Residential cooperative purchasers are subject to processes 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 discriminate 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 cooperative dwelling include the additional safeguards of this bill to protect against illegal discrimination.

Legislative history

New bill.

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.