NY State Senate Bill S290

Current Bill Status - Delivered to Governor

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

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Actions

view actions (12)

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Oct 13, 2021	delivered to governor
Jun 02, 2021	returned to senate passed assembly
Mar 10, 2021	ordered to third reading cal.137 substituted for a113
Mar 02, 2021	referred to judiciary delivered to assembly passed senate
Feb 03, 2021	advanced to third reading
Feb 02, 2021	2nd report cal.
Feb 01, 2021	1st report cal.204
Jan 06, 2021	referred to judiciary

Votes

Co-Sponsors

S290 (ACTIVE) - Details

See Assembly Version of this Bill:: A113
Law Section:: Debtor and Creditor Law
Laws Affected:: Amd §282, D & C L
Versions Introduced in Other Legislative Sessions:: 2015-2016: A6350
2017-2018: A547
2019-2020: S3137, A44

S290 (ACTIVE) - Summary

Exempts a debtor's interest in his or her rent-stabilized lease from bankruptcy proceedings.

S290 (ACTIVE) - Sponsor Memo

 
BILL NUMBER: S290

SPONSOR: MYRIE
 
TITLE OF BILL:

An act to amend the debtor and creditor law, in relation to exempting a
debtor's interest in his or her rent-stabilized lease from bankruptcy
proceedings

 
PURPOSE:

The purpose of this legislation is to protect a debtor facing bankrupt-
cy. Exemption shall be granted to the debtor interest in his or her
rent-stabilized lease.

 
SUMMARY OF PROVISIONS:

Section one of the bill amends subdivision 2 of § 282 of the debtor and
creditor law to add the debtor's interest in his or her rent stabilized
lease as authorized bankruptcy exemption for right to receive benefits.
This will ensure that all benefits remain in place without regard to the

debtor's financial standing.

Section two of the bill provides the effective date.

 
JUSTIFICATION:

As of 2009, 1,412,838 non-business bankruptcy claims were filed within
the United States according to the Administrative Office of the U.S.
Courts. Under subdivision 2 of section 282 of the debtor and creditor
law, exemptions for the right to receive benefits are made for debtors
facing bankruptcy. This bill would reiterate such benefits, while adding
that the debtor's interest in his or her rent stabilized lease be upheld
and respected. Additionally this bill looks to ensure that one's lease
on a rent-stabilized property cannot be nullified or held as collateral
as a result of the filing of bankruptcy of the debtor, and shall be
entitled as an exemption benefit within this subdivision.

 
LEGISLATIVE HISTORY:

2019-2020: A44 - Judiciary, 53137 - Advanced to third reading

2017-2018: A.547 - Judiciary 2015-2016: A.6350 - Judiciary

 
EFFECTIVE DATE:
This act shall take effect immediately.

S290 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    290
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by  Sens.  MYRIE, SALAZAR -- read twice and ordered printed,
   and when printed to be committed to the Committee on Judiciary
 
 AN ACT to amend the debtor and creditor law, in relation to exempting  a
   debtor's  interest in his or her rent-stabilized lease from bankruptcy
   proceedings

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subdivision  2  of section 282 of the debtor and creditor
 law, as amended by chapter 206 of the laws of 1998, is amended  to  read
 as follows:
   2.  Bankruptcy  exemption  for right to receive benefits. The debtor's
 right to receive or the debtor's interest  in:  (a)  a  social  security
 benefit, unemployment compensation or a local public assistance benefit;
 (b)  a  veterans'  benefit;  (c)  a disability, illness, or unemployment
 benefit; (d) alimony, support, or separate maintenance,  to  the  extent
 reasonably  necessary for the support of the debtor and any dependent of
 the debtor; [and] (e) THE DEBTOR'S INTEREST IN HIS  OR  HER  RENT-STABI-
 LIZED  LEASE;  AND (F) all payments under a stock bonus, pension, profit
 sharing, or similar plan or contract on account of illness,  disability,
 death,  age,  or  length  of  service  unless (i) such plan or contract,
 except those qualified under section 401, 408  or  408A  of  the  United
 States Internal Revenue Code of 1986, as amended, was established by the
 debtor  or  under the auspices of an insider that employed the debtor at
 the time the debtor's rights under such plan  or  contract  arose,  (ii)
 such plan is on account of age or length of service, and (iii) such plan
 or  contract  does  not qualify under section four hundred one (a), four
 hundred three (a), four hundred three  (b),  four  hundred  eight,  four
 hundred  eight  A,  four hundred nine or four hundred fifty-seven of the
 Internal Revenue Code of nineteen hundred eighty-six, as amended.
   § 2. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

                       [ ] is old law to be omitted.
                                                            LBD02332-01-1

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The New York State Senate

senate Bill S290

Sponsored By

Current Bill Status - Delivered to Governor

Your Voice

Actions

Votes

Mar 3, 2021 - floor Vote

Floor Vote: Mar 3, 2021

Mar 2, 2021 - floor Vote

Floor Vote: Mar 2, 2021

Feb 2, 2021 - Judiciary committee Vote

Judiciary Committee Vote: Feb 2, 2021

Co-Sponsors

S290 (ACTIVE) - Details

S290 (ACTIVE) - Summary

S290 (ACTIVE) - Sponsor Memo

S290 (ACTIVE) - Bill Text download pdf

Comments

senate Bill S290

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Sponsored By

Zellnor Myrie

Current Bill Status - Delivered to Governor

Your Voice

Actions

Votes

Mar 3, 2021 - floor Vote

Floor Vote: Mar 3, 2021

Mar 2, 2021 - floor Vote

Floor Vote: Mar 2, 2021

Feb 2, 2021 - Judiciary committee Vote

Judiciary Committee Vote: Feb 2, 2021

Co-Sponsors

Julia Salazar

S290 (ACTIVE) - Details

S290 (ACTIVE) - Summary

S290 (ACTIVE) - Sponsor Memo

S290 (ACTIVE) - Bill Text download pdf

Comments