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Assembly Bill A7923

2023-2024 Legislative Session

Prohibits insurers from requiring a property owner to disclose the presence of tenants receiving rental assistance; prohibits coverage refusal due to the presence of tenants receiving rental assistance

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee

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2023-A7923 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §§3462 & 3463, Ins L

2023-A7923 (ACTIVE) - Summary

Prohibits insurers from requiring a property owner to disclose the presence of tenants receiving rental assistance; prohibits coverage refusal due to the presence of tenants receiving rental assistance.

2023-A7923 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7923
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              August 4, 2023
                                ___________
 
 Introduced  by  M.  of  A. L. ROSENTHAL -- read once and referred to the
   Committee on Insurance
 
 AN ACT to amend the insurance law, in relation to  prohibiting  insurers
   from  requiring  a  property owner to disclose the presence of tenants
   receiving rental assistance and prohibiting coverage  refusal  due  to
   the presence of tenants receiving rental assistance
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The insurance law is amended by adding a new  section  3462
 to read as follows:
   §  3462. RENTAL ASSISTANCE DISCLOSURE.  NO INSURER SHALL, ON AN APPLI-
 CATION FOR A POLICY OF INSURANCE ON PROPERTY, REQUIRE A  PROPERTY  OWNER
 TO DISCLOSE WHETHER SUCH PROPERTY OWNER RENTS ANY PORTION OF THE PROPER-
 TY  TO  A  TENANT WHO RECEIVES ANY RENTAL ASSISTANCE PROVIDED BY A CITY,
 STATE, OR FEDERAL AGENCY, HOUSING AUTHORITY, OR OTHER ENTITY WHEREIN THE
 TENANT'S PORTION OF THE RENT IS LIMITED TO A PERCENTAGE OF THE  TENANT'S
 INCOME.
   § 2. The insurance law is amended by adding a new section 3463 to read
 as follows:
   §  3463.  TENANTS  RECEIVING RENTAL ASSISTANCE; COVERAGE REFUSAL.  (A)
 FOR PURPOSES OF THIS SECTION, "INSURED" MEANS A CURRENT POLICYHOLDER  OR
 A PERSON OR ENTITY THAT IS COVERED UNDER A PROPERTY INSURANCE POLICY.
   (B)  AN INSURER THAT ISSUES OR DELIVERS A POLICY IN THIS STATE ON REAL
 PROPERTY AND THE BUILDINGS AND IMPROVEMENTS THEREON  SHALL  NOT  CANCEL,
 REFUSE TO ISSUE, REFUSE TO RENEW, OR INCREASE THE PREMIUM OF A POLICY OR
 EXCLUDE, LIMIT, RESTRICT, OR REDUCE COVERAGE UNDER SUCH POLICY SOLELY ON
 THE  BASIS  THAT  ANY TENANTS OF SUCH PROPERTY RECEIVE RENTAL ASSISTANCE
 FROM A CITY, STATE, OR FEDERAL AGENCY, HOUSING AUTHORITY, OR OTHER ENTI-
 TY WHERE THE TENANT'S PORTION OF THE RENT IS LIMITED TO A PERCENTAGE  OF
 THE TENANT'S INCOME.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11964-01-3
 A. 7923                             2

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