Senate Bill S2525

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  2525--A
     Cal. No. 233
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 21, 2021
                                ___________
 
 Introduced  by Sens. KAVANAGH, KAPLAN -- read twice and ordered printed,
   and when printed to be committed to  the  Committee  on  Judiciary  --
   reported  favorably from said committee and committed to the Committee
   on Rules -- ordered to a third reading, amended and ordered reprinted,
   retaining its place in the order of third reading
 
 AN ACT to amend the real property law,  in  relation  to  requiring  the
   secretary  of  state to require that real estate brokers and salesper-
   sons compile and disclose certain demographic information
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  real property law is amended by adding a new section
 442-m to read as follows:
   § 442-M.  COLLECTION AND DISCLOSURE OF DEMOGRAPHIC  INFORMATION.    1.
 (A) EVERY REAL ESTATE BROKER OR SALESPERSON LICENSED IN THIS STATE SHALL
 REQUEST,  IN  A  MANNER  CONSISTENT  WITH ANY REGULATIONS ADOPTED BY THE
 SECRETARY OF STATE, THE VOLUNTARILY DISCLOSURE OF  DEMOGRAPHIC  INFORMA-
 TION FROM EACH CLIENT OF SUCH BROKER OR SALESPERSON WHO IS A PROSPECTIVE
 HOME  PURCHASER,  INCLUDING THE FULL NAME, RACE, ETHNICITY AND GENDER OF
 EACH SUCH CLIENT, AND OTHER DEMOGRAPHIC INFORMATION AS THE SECRETARY  OF
 STATE  MAY  DETERMINE  IS  NECESSARY,  AND  SHALL RECORD AND RETAIN SUCH
 INFORMATION FOR A PERIOD  OF  TWO  YEARS;  PROVIDED  THAT  THE  CLIENT'S
 PRODUCTION  OF  OR  REFUSAL TO PRODUCE SUCH INFORMATION SHALL NOT AFFECT
 THE PROVISION OF SERVICES TO THE CLIENT.
   (B) FOR EACH SUCH CLIENT, SUCH BROKER OR SALESPERSON SHALL RECORD  THE
 RESULTS  OF  THE SERVICES PROVIDED BY SUCH BROKER OR SALESPERSON IN THIS
 STATE, INCLUDING PROPERTIES LISTED, PROPERTIES SHOWN,  THE  LOCATION  OF
 SUCH  PROPERTIES,  AND  THE  DISPOSITION OF EVERY OFFER RECEIVED BY SUCH
 BROKER WITH RESPECT TO A TRANSACTION, INCLUDING WHETHER  THE  OFFER  WAS
 ACCEPTED  OR  REJECTED  AND WHETHER A CLOSING OCCURRED, AND SHALL RETAIN
 SUCH INFORMATION FOR A PERIOD OF TWO YEARS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD08441-02-1

 S. 2525--A                          2
 
   (C) EVERY SUCH BROKER OR SALESPERSON SHALL  SUBMIT,  OR  CAUSE  TO  BE
 SUBMITTED  THROUGH A BROKERAGE BUSINESS WITH WHICH SUCH BROKER OR SALES-
 PERSON IS ASSOCIATED, A SUMMARY OF THE INFORMATION RECORDED PURSUANT  TO
 THIS  SUBDIVISION  TO  THE DEPARTMENT OF STATE IN A MANNER PRESCRIBED BY
 THE  SECRETARY  OF  STATE.  SUCH SUBMISSION SHALL BE DUE ANNUALLY BY THE
 FIRST DAY OF MARCH FOR THE PRECEDING CALENDAR YEAR.
   2. THE SECRETARY OF STATE SHALL ESTABLISH AND MAINTAIN A  DATABASE  OF
 ALL  INFORMATION  SUBMITTED  PURSUANT TO SUBDIVISION ONE OF THIS SECTION
 AND SHALL MAKE SUCH DATA AVAILABLE TO THE GOVERNOR, THE ATTORNEY  GENER-
 AL, THE TEMPORARY PRESIDENT OF THE SENATE, AND THE SPEAKER OF THE ASSEM-
 BLY UPON REQUEST. ALL SUCH DATA SHALL BE MAINTAINED IN A FORMAT THAT CAN
 BE  SEARCHED  BY  LOCATION, BY REAL ESTATE BROKER OR SALESPERSON, AND BY
 ANY BROKERAGE BUSINESS WITH WHICH SUCH  BROKER  OR  SALESPERSON  MAY  BE
 ASSOCIATED.  SUCH  DATABASE  SHALL  NOT  BE DISCLOSED TO A MEMBER OF THE
 PUBLIC UNLESS THE DATA HAS BEEN ANONYMIZED TO PROTECT  THE  IDENTITY  OF
 THE CLIENTS.
   3.  THE  SECRETARY OF STATE SHALL ISSUE AN ANNUAL REPORT TO THE GOVER-
 NOR, THE ATTORNEY GENERAL, THE TEMPORARY PRESIDENT OF  THE  SENATE,  AND
 THE  SPEAKER  OF  THE  ASSEMBLY,  AND  MAKE SUCH REPORT AVAILABLE ON THE
 PUBLIC WEBSITE OF THE DEPARTMENT OF STATE, ON THE AGGREGATE  DEMOGRAPHIC
 DATA  OF CLIENTS AND THE RESULTS OF SERVICES REPORTED PURSUANT TO SUBDI-
 VISION ONE OF THIS SECTION. SUCH REPORT SHALL BE DUE BY THE FIRST DAY OF
 MAY OF EACH YEAR AND SHALL COVER CLIENTS SERVED BY BROKERS OR  SALESPER-
 SONS  DURING  THE  PRECEDING  CALENDAR YEAR AND ANY OTHER INFORMATION OR
 ANALYSIS THAT THE SECRETARY OF STATE  MAY  DETERMINE  APPROPRIATE.  SUCH
 REPORT  SHALL  NOT  INCLUDE  THE  IDENTITY  OF  ANY  CLIENT WITHOUT SUCH
 CLIENT'S CONSENT.
   § 2. This act shall take effect on the ninetieth day  after  it  shall
 have become a law. Effective immediately, the adoption, amendment and/or
 repeal  of  any  rule  or regulation necessary for the implementation of
 this act on its effective date is authorized to be  made  on  or  before
 such date.