Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 12, 2024 |
referred to judiciary |
Senate Bill S8540
2023-2024 Legislative Session
Sponsored By
(D) 23rd Senate District
Archive: Last Bill Status - In Senate Committee Judiciary Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2023-S8540 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A7325
- Current Committee:
- Senate Judiciary
- Law Section:
- Real Property Law
- Laws Affected:
- Amd §441, RP L
- Versions Introduced in 2025-2026 Legislative Session:
-
S3324, A5095
2023-S8540 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8540 SPONSOR: SCARCELLA-SPANTON TITLE OF BILL: An act to amend the real property law, in relation to requiring VA home loan training in the required training for real estate brokers PURPOSE OR GENERAL IDEA OF BILL: To increase education and awareness about VA Home Loans. SUMMARY OF PROVISIONS: Section one: Amends paragraph a of subdivision three of the real proper- ty law to include one hour of instruction pertaining to a VA Home Loan and defines a VA Home Loan. Section two: Sets the effective date. JUSTIFICATION:
2023-S8540 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8540 I N S E N A T E February 12, 2024 ___________ Introduced by Sen. SCARCELLA-SPANTON -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the real property law, in relation to requiring VA home loan training in the required training for real estate brokers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (a) of subdivision 3 of section 441 of the real property law, as separately amended by chapters 686 and 688 of the laws of 2021, is amended to read as follows: (a) No renewal license shall be issued any licensee under this article for any license period commencing November first, nineteen hundred nine- ty-five unless such licensee shall have within the two year period imme- diately preceding such renewal attended at least twenty-two and one-half hours which shall include at least two hours of cultural competency training, at least three hours of instruction pertaining to fair housing and/or discrimination in the sale or rental of real property or an interest in real property, at least two hours of instruction pertaining to implicit bias awareness and understanding, AT LEAST ONE HOUR OF INSTRUCTION PERTAINING TO A VA HOME LOAN, at least two and one-half hours of instruction pertaining to ethical business practices, at least one hour of instruction pertaining to recent legal matters governing the practice of real estate brokers and salespersons in New York which may include statutes, laws, regulations, rules, codes, department of state opinions and decisions, and court decisions and at least one hour of instruction pertaining to the law of agency except in the case of the initial two-year licensing term for real estate salespersons, two hours of agency related instruction must be completed, and successfully completed a continuing education real estate course or courses approved by the secretary of state as to method, content and supervision, which approval may be withdrawn if in the opinion of the secretary of state such course or courses are not being conducted properly as to method, content and supervision. For those individuals licensed pursuant to subdivision six of section four hundred forty-two-g of this article, in the individual's initial license term, at least eleven hours of the EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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