Do you support this bill?

Senate Bill S5881

2021-2022 Legislative Session

Relates to the forbearance of residential mortgage payments due to COVID-19

download bill text pdf

Sponsored By

Archive: Last Bill Status - Stricken

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-S5881 (ACTIVE) - Details

Law Section:
Banking Law
Laws Affected:
Amd §9-x, Bank L

2021-S5881 (ACTIVE) - Summary

Relates to the forbearance of residential mortgage payments due to COVID-19.

2021-S5881 (ACTIVE) - Sponsor Memo

2021-S5881 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5881
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              March 22, 2021
                                ___________
 
 Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 AN ACT to amend the banking law, in relation to the forbearance of resi-
   dential mortgage payments
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. Paragraph (a) of subdivision 1 of section 9-x of the bank-
 ing law, as amended by section 1 of part C of chapter 126 of the laws of
 2020, is amended to read as follows:
   (a) "Covered period" means March 7, 2020 until the LATER  OF  DECEMBER
 31,  2021  OR  THE  date  on which none of the provisions that closed or
 otherwise restricted public or private businesses or  places  of  public
 accommodation,  or  required postponement or cancellation of all non-es-
 sential gatherings of individuals of any size for any reason  in  Execu-
 tive  Orders  202.3,  202.4, 202.5, 202.6, 202.7, 202.8, 202.10, 202.11,
 202.13 or 202.14, as extended by Executive Orders 202.28 and 202.31  and
 as further extended by any future Executive Order, issued in response to
 the  COVID-19  pandemic continue to apply in the county of the qualified
 mortgagor's residence;
   § 2. This act shall take effect immediately.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10270-01-1

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.