Senate Bill S8874

2021-2022 Legislative Session

Allocates fines imposed on real estate appraisers to the anti-discrimination in housing fund

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2021-S8874 (ACTIVE) - Details

See Assembly Version of this Bill:
A10130
Current Committee:
Assembly Judiciary
Law Section:
Executive Law
Laws Affected:
Amd §§160-u, 160-e, 160-v & 160-w, Exec L; amd §80-a, St Fin L
Versions Introduced in 2023-2024 Legislative Session:
S2919, A5459

2021-S8874 (ACTIVE) - Summary

Allocates fines imposed on real estate appraisers to the anti-discrimination in housing fund; provides that a fine not exceeding two thousand dollars may be imposed on real estate appraisers for certain acts or omissions.

2021-S8874 (ACTIVE) - Sponsor Memo

2021-S8874 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8874
 
                             I N  S E N A T E
 
                              April 26, 2022
                                ___________
 
 Introduced  by  Sen. REICHLIN-MELNICK -- read twice and ordered printed,
   and when printed to be committed to the Committee on Finance
 
 AN ACT to amend the executive law and the state finance law, in relation
   to allocating fines imposed on real estate appraisers to the anti-dis-
   crimination in housing fund
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. The opening paragraph of subdivision 1 of section 160-u of
 the executive law, as amended by chapter 397 of the  laws  of  1991,  is
 amended to read as follows:
   The  rights  of any holder under a state certificate as a state certi-
 fied real estate appraiser, or a license as a state licensed real estate
 appraiser, may be revoked or suspended, A FINE NOT EXCEEDING  TWO  THOU-
 SAND  DOLLARS  MAY  BE  IMPOSED  ON  ANY  HOLDER OF THE CERTIFICATION OR
 LICENSE, PROVIDED THAT FIFTY PERCENT  OF  ALL  MONEYS  RECEIVED  BY  THE
 DEPARTMENT  OF STATE FOR SUCH FINES SHALL BE PAYABLE TO THE ANTI-DISCRI-
 MINATION IN HOUSING FUND ESTABLISHED PURSUANT TO SECTION EIGHTY-A OF THE
 STATE FINANCE LAW, or the holder of the certification or license may  be
 otherwise disciplined in accordance with the provisions of this article,
 upon  any  of  the grounds set forth in this section. The department may
 investigate the actions of a state certified  or  licensed  real  estate
 appraiser,  and  may  revoke  or  suspend the rights of a certificate or
 license holder IMPOSE A FINE ON A  CERTIFICATE  OR  LICENSE  HOLDER,  or
 otherwise discipline a state certified or licensed real estate appraiser
 for any of the following acts or omissions:
   §  2.  Subdivision 9 of section 160-e of the executive law, as amended
 by chapter 397 of the laws of 1991, is amended to read as follows:
   9. To suspend and revoke certificates  or  licenses  OR  IMPOSE  FINES
 pursuant to the disciplinary proceedings provided for in this article.
   §  3.  Subdivision 1 of section 160-v of the executive law, as amended
 by chapter 241 of the laws of 1999, is amended to read as follows:
   1. Before suspending or  revoking  any  certification  or  license  OR
 IMPOSING  ANY  FINES  ON  A  HOLDER  OF  A CERTIFICATION OR LICENSE, the
 department shall notify the state  certified  or  licensed  real  estate
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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