Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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---|---|
Dec 16, 2022 | signed chap.696 |
Dec 06, 2022 | delivered to governor |
May 18, 2022 | returned to assembly passed senate 3rd reading cal.1032 substituted for s8564 |
May 18, 2022 | substituted by a8809b |
May 05, 2022 | advanced to third reading |
May 04, 2022 | 2nd report cal. |
May 03, 2022 | 1st report cal.1032 |
Mar 14, 2022 | referred to housing, construction and community development |
senate Bill S8564
Signed By GovernorSponsored By
Andrew Gounardes
(D) 26th Senate District
Archive: Last Bill Status Via A8809 - Signed by Governor
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
Your Voice
Actions
Votes
Co-Sponsors
Simcha Felder
(D) 22nd Senate District
S8564 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8809
- Law Section:
- General Business Law
- Laws Affected:
- Amd §352-eeee, Gen Bus L
S8564 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8564 SPONSOR: GOUNARDES TITLE OF BILL: An act to amend the general business law, in relation to the percentage of units to be sold to convert certain real property to cooperative or condominium ownership in the city of New York PURPOSE OR GENERAL IDEA OF BILL: To permit owner-occupied buildings with five or fewer units to convert to cooperative or condominium ownership with fewer restrictions. SUMMARY OF PROVISIONS: Section one of this bill amends section 352-eeee of the General Business Law to provide that for buildings containing five or fewer units, a plan may not be declared effective for conversion to cooperative or condomin- ium ownership until written purchase agreements have been executed and delivered from either bona fide tenants in occupancy or bona fide purchasers for occupancy for at least fifteen percent of all dwelling
S8564 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8564 I N S E N A T E March 14, 2022 ___________ Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the general business law, in relation to the percentage of units to be sold to convert certain real property to cooperative or condominium ownership in the city of New York THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (b) of subdivision 1 of section 352-eeee of the general business law, as amended by section 1 of part N of chapter 36 of the laws of 2019, is amended to read as follows: (b) "Non-eviction plan". A plan which may not be declared effective until written purchase agreements have been executed and delivered for at least fifty-one percent of all dwelling units in the building or group of buildings or development by bona fide tenants who were in occu- pancy on the date a letter was issued by the attorney general accepting the plan for filing; PROVIDED, HOWEVER, THAT FOR A BUILDING CONTAINING FIVE OR FEWER UNITS, AND WHERE THE SPONSOR OF THE OFFERING PLAN OFFERS THE UNIT THAT THEY OR THEIR IMMEDIATE FAMILY MEMBER HAS OCCUPIED FOR AT LEAST TWO YEARS, THE PLAN MAY NOT BE EFFECTIVE UNTIL WRITTEN PURCHASE AGREEMENTS HAVE BEEN EXECUTED AND DELIVERED FOR AT LEAST FIFTEEN PERCENT OF ALL DWELLING UNITS IN THE BUILDING SUBSCRIBED FOR BY BONA FIDE TENANTS IN OCCUPANCY OR BONA FIDE PURCHASERS WHO REPRESENT THAT THEY INTEND THAT THEY OR ONE OR MORE MEMBERS OF THEIR IMMEDIATE FAMILY OCCUPY THE DWELLING UNIT WHEN IT BECOMES VACANT. The purchase agreement shall be executed and delivered pursuant to an offering made in good faith without fraud and discriminatory repurchase agreements or other discri- minatory inducements. § 2. Subparagraph (i) of paragraph (c) of subdivision 2 of section 352-eeee of the general business law, as amended by section 1 of part N of chapter 36 of the laws of 2019, is amended to read as follows: (i) [The] (1) SUBJECT TO THE PROVISIONS OF CLAUSE TWO OF THIS SUBPARA- GRAPH, THE plan may not be declared effective until written purchase agreements have been executed and delivered for at least fifty-one EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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