Senate Bill S2060

2021-2022 Legislative Session

Provides for vesting of development rights for residential properties

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Local Government 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

2021-S2060 (ACTIVE) - Details

Current Committee:
Senate Local Government
Law Section:
General Municipal Law
Laws Affected:
Add Art 7-B §§150 - 157, Gen Muni L
Versions Introduced in Other Legislative Sessions:
2017-2018: S8806
2019-2020: S2495

2021-S2060 (ACTIVE) - Summary

Provides for vesting of development rights for residential properties.

2021-S2060 (ACTIVE) - Sponsor Memo

2021-S2060 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2060
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 19, 2021
                                ___________
 
 Introduced  by  Sen.  JORDAN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Local Government
 
 AN ACT to amend the general municipal law, in relation to providing  for
   vesting of development rights for residential properties
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general municipal law is amended by adding a new  arti-
 cle 7-B to read as follows:
                                ARTICLE 7-B
        VESTED RIGHTS RELATING TO RESIDENTIAL PROPERTY DEVELOPMENT
 SECTION 150. LEGISLATIVE FINDINGS AND INTENT.
         151. DEFINITIONS.
         152. GOVERNING REGULATIONS.
         153. ESTABLISHMENT OF VESTED PROPERTY RIGHT.
         154. NOTICE OF VESTED PROPERTY RIGHTS.
         155. DURATION AND TERMINATION OF VESTED PROPERTY RIGHT.
         156. SUBSEQUENT REGULATION PROHIBITED; EXCEPTIONS.
         157. APPLICATION.
   §  150. LEGISLATIVE FINDINGS AND INTENT. 1. THERE IS A CONTINUING NEED
 FOR THE DEVELOPMENT OF  HOUSING  IN  NEW  YORK  STATE.  LANDOWNERS  MAKE
 SIGNIFICANT  INVESTMENTS  TO  ACQUIRE  REAL  PROPERTY  AND TO OBTAIN THE
 REQUIRED STATE AND MUNICIPAL PERMITS AND APPROVALS TO CONSTRUCT RESIDEN-
 TIAL HOUSING. TO OBTAIN FINANCING FOR RESIDENTIAL HOUSING  PROJECTS,  IT
 IS  NECESSARY  TO  HAVE  CERTAINTY  REGARDING DEVELOPMENT RIGHTS. VESTED
 PROPERTY RIGHTS ENSURE REASONABLE CERTAINTY, STABILITY AND  FAIRNESS  IN
 THE LAND USE PLANNING PROCESS.
   2.  IT  IS  NECESSARY  AND DESIRABLE, AS A MATTER OF PUBLIC POLICY, TO
 PROVIDE FOR THE ESTABLISHMENT OF VESTED  PROPERTY  RIGHTS  IN  ORDER  TO
 ENSURE  REASONABLE  CERTAINTY,  STABILITY,  AND FAIRNESS IN THE LAND USE
 PLANNING PROCESS AND IN ORDER TO STIMULATE ECONOMIC GROWTH,  SECURE  THE
 REASONABLE  INVESTMENT-BACKED  EXPECTATIONS  OF  LANDOWNERS,  AND FOSTER
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.