Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 07, 2024 |
returned to assembly passed senate 3rd reading cal.1869 substituted for s9721a |
Jun 07, 2024 |
substituted by a10467a |
Jun 06, 2024 |
ordered to third reading cal.1869 committee discharged and committed to rules |
Jun 04, 2024 |
print number 9721a |
Jun 04, 2024 |
amend and recommit to judiciary |
May 22, 2024 |
referred to judiciary |
Senate Bill S9721A
2023-2024 Legislative Session
Sponsored By
(D) 11th Senate District
Current Bill Status Via A10467 - Passed Senate
- 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
Votes
Bill Amendments
2023-S9721 - Details
- See Assembly Version of this Bill:
- A10467
- Law Section:
- Real Property Law
- Laws Affected:
- Add §233-c, RP L
2023-S9721 - Sponsor Memo
BILL NUMBER: S9721 SPONSOR: STAVISKY TITLE OF BILL: An act to amend the real property law, in relation to ground lease contracts PURPOSE: This bill will give ground lease residential cooperatives more initi- ative in the renewal and/or extension of leases. SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill amends the real property law by adding section 233 -c, which includes defined terms and a renewal/extension provision. Part (a) - defines the term "residential ground lease cooperative apart- ment building." Part (b) - defines the term "ground lease residential cooperative." Part (c) - defines the term "subject residential cooper- ative ground lease."
2023-S9721 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9721 I N S E N A T E May 22, 2024 ___________ Introduced by Sen. STAVISKY -- 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 ground lease contracts 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 233-c to read as follows: § 233-C. RESIDENTIAL GROUND LEASE COOPERATIVE APARTMENT BUILDINGS. 1. WHEREVER USED IN THIS SECTION: (A) THE TERM "RESIDENTIAL GROUND LEASE COOPERATIVE APARTMENT BUILDING" MEANS ANY AND ALL BUILDINGS, IMPROVEMENTS AND/OR OTHER STRUCTURES LOCATED IN THE STATE OF NEW YORK OCCUPIED, OWNED AND/OR LEASED IN WHOLE OR IN PART BY A GROUND LEASE RESIDENTIAL COOPERATIVE, OR ANY SUBSIDIARY OR AFFILIATE THEREOF, PURSUANT TO A SUBJECT RESIDENTIAL COOPERATIVE GROUND LEASE. (B) THE TERM "GROUND LEASE RESIDENTIAL COOPERATIVE" MEANS ANY NEW YORK CORPORATION ORGANIZED AND/OR OPERATING AS A HOUSING DEVELOPMENT FUND CORPORATION, NEW YORK COOPERATIVE CORPORATION AND/OR COOPERATIVE HOUSING CORPORATION, INCLUDING ANY ENTITY MEETING THE DEFINITION THEREOF FOR FEDERAL INCOME TAX PURPOSES, OR ANY PERSON OR ENTITY THAT IS A TENANT IN COMMON, CO-TENANT OR JOINT OWNER WITH ANY SUCH CORPORATION, OR WHICH IS, DIRECTLY OR INDIRECTLY THROUGH A SUBSIDIARY OR AFFILIATE THEREOF, A PARTY TO A SUBJECT RESIDENTIAL COOPERATIVE GROUND LEASE. (C) THE TERM "SUBJECT RESIDENTIAL COOPERATIVE GROUND LEASE" MEANS THE LEASE AGREEMENT, TOGETHER WITH ANY AMENDMENTS OR OTHER RELATED AGREE- MENTS INCLUDING ANY FORBEARANCE, SETTLEMENT, TENANCY IN COMMON OR OTHER SIMILAR AGREEMENTS RELATED THERETO, PURSUANT TO WHICH A GROUND LEASE RESIDENTIAL COOPERATIVE LEASES, OCCUPIES AND/OR OTHERWISE USES FOR RESI- DENTIAL, COMMERCIAL, OR OTHER ANCILLARY PURPOSES THE GROUND LEASE REAL PROPERTY FROM ONE OR MORE SUBJECT GROUND LEASE OWNERS. 2. ANY SUBJECT RESIDENTIAL COOPERATIVE GROUND LEASE IN A RESIDENTIAL GROUND LEASE COOPERATIVE APARTMENT BUILDING CONTAINING A RENEWAL AND/OR EXTENSION CLAUSE EXERCISABLE PRIOR TO THE EXPIRATION OF SUCH GROUND EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2023-S9721A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A10467
- Law Section:
- Real Property Law
- Laws Affected:
- Add §233-c, RP L
2023-S9721A (ACTIVE) - Sponsor Memo
BILL NUMBER: S9721A SPONSOR: STAVISKY TITLE OF BILL: An act to amend the real property law, in relation to ground lease contracts PURPOSE: This bill will give ground lease residential cooperatives more initi- ative in the renewal and/or extension of leases. SUMMARY OF SPECIFIC PROVISIONS: Section 1 of the bill amends the real property law by adding section 233-c, which includes defined terms and a renewal/extension provision. Part (a) - defines the term "residential ground lease cooperative apart- ment building." Part (b) - defines the term "ground lease residential cooperative."
2023-S9721A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9721--A I N S E N A T E May 22, 2024 ___________ Introduced by Sen. STAVISKY -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the real property law, in relation to ground lease contracts 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 233-c to read as follows: § 233-C. RESIDENTIAL GROUND LEASE COOPERATIVE APARTMENT BUILDINGS. 1. WHEREVER USED IN THIS SECTION: (A) THE TERM "RESIDENTIAL GROUND LEASE COOPERATIVE APARTMENT BUILDING" MEANS ANY AND ALL BUILDINGS, IMPROVEMENTS OR OTHER STRUCTURES LOCATED IN THE STATE OF NEW YORK OCCUPIED, OWNED OR LEASED IN WHOLE OR IN PART BY A GROUND LEASE RESIDENTIAL COOPERATIVE, OR ANY SUBSIDIARY OR AFFILIATE THEREOF, PURSUANT TO A SUBJECT RESIDENTIAL COOPERATIVE GROUND LEASE. (B) THE TERM "GROUND LEASE RESIDENTIAL COOPERATIVE" MEANS ANY NEW YORK CORPORATION ORGANIZED OR OPERATING AS A HOUSING DEVELOPMENT FUND CORPO- RATION, NEW YORK COOPERATIVE CORPORATION OR COOPERATIVE HOUSING CORPO- RATION, INCLUDING ANY ENTITY MEETING THE DEFINITION THEREOF FOR FEDERAL INCOME TAX PURPOSES, OR ANY PERSON OR ENTITY THAT IS A TENANT IN COMMON, CO-TENANT OR JOINT OWNER WITH ANY SUCH CORPORATION, OR WHICH IS, DIRECT- LY OR INDIRECTLY THROUGH A SUBSIDIARY OR AFFILIATE THEREOF, A PARTY TO A SUBJECT RESIDENTIAL COOPERATIVE GROUND LEASE. (C) THE TERM "SUBJECT RESIDENTIAL COOPERATIVE GROUND LEASE" MEANS THE LEASE AGREEMENT, TOGETHER WITH ANY AMENDMENTS OR OTHER RELATED AGREE- MENTS INCLUDING ANY FORBEARANCE, SETTLEMENT, TENANCY IN COMMON OR OTHER SIMILAR AGREEMENTS RELATED THERETO, PURSUANT TO WHICH A GROUND LEASE RESIDENTIAL COOPERATIVE LEASES, OCCUPIES OR OTHERWISE USES FOR RESIDEN- TIAL, COMMERCIAL, OR OTHER ANCILLARY PURPOSES THE GROUND LEASE REAL PROPERTY FROM ONE OR MORE SUBJECT GROUND LEASE OWNERS. (D) THE TERM "GROUND LEASE REAL PROPERTY" MEANS ALL REAL PROPERTY, INCLUDING IMPROVEMENTS THEREON, ALL OR ANY PORTION OF WHICH IS LEASED, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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