senate Bill S2060

2021-2022 Legislative Session

Provides for vesting of development rights for residential properties

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Local Government Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 19, 2021 referred to local government

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

S2060 (ACTIVE) - Summary

Provides for vesting of development rights for residential properties.

S2060 (ACTIVE) - Sponsor Memo

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.

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