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Assembly Bill A1701

2025-2026 Legislative Session

Relates to the treatment of cooperative housing entities

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2025-A1701 (ACTIVE) - Details

See Senate Version of this Bill:
S1745
Current Committee:
Assembly Housing
Law Section:
Real Property Law
Laws Affected:
Add §220-a, RPT L
Versions Introduced in 2023-2024 Legislative Session:
A7330

2025-A1701 (ACTIVE) - Summary

Provides that the term "landlord" when used in the real property law, shall not include or apply to any corporation, entity or organization, hereinafter known as a "cooperative entity" that is or is operating for the purpose of providing housing and/or residences for its shareholders by leasing or subleasing to such shareholders, under proprietary leases or occupancy agreements or subleases of such leases or occupancy agreements of apartments or residences in the buildings or premises owned by such cooperative entities; makes related provisions for the term "tenant".

2025-A1701 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1701
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 14, 2025
                                ___________
 
 Introduced  by M. of A. BRAUNSTEIN, SHIMSKY -- read once and referred to
   the Committee on Housing
 
 AN ACT to amend the real property law, in relation to the  treatment  of
   cooperative housing entities
 
   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
 220-a to read as follows:
   § 220-A. TREATMENT OF COOPERATIVE HOUSING ENTITIES. 1. EFFECTIVE ON OR
 AFTER  THE EFFECTIVE DATE OF THIS SECTION, THE TERM "LANDLORD" SHALL NOT
 INCLUDE OR APPLY TO ANY CORPORATION, ENTITY OR ORGANIZATION, HEREINAFTER
 KNOWN AS A "COOPERATIVE ENTITY" THAT IS OR IS OPERATING FOR THE  PURPOSE
 OF  PROVIDING  HOUSING AND/OR RESIDENCES FOR ITS SHAREHOLDERS BY LEASING
 OR SUBLEASING TO SUCH SHAREHOLDERS, UNDER PROPRIETARY LEASES OR OCCUPAN-
 CY AGREEMENTS OR SUBLEASES OF SUCH LEASES  OR  OCCUPANCY  AGREEMENTS  OF
 APARTMENTS  OR  RESIDENCES  IN  THE  BUILDINGS OR PREMISES OWNED BY SUCH
 COOPERATIVE ENTITIES.
   2. THE TERM "TENANT" SHALL NOT  INCLUDE  ANY  SHAREHOLDER,  TENANT  OR
 SUBTENANT  OF  COOPERATIVE  ENTITIES, UNLESS SUCH LEGISLATION OR CHAPTER
 SPECIFICALLY PROVIDES THAT SUCH TERM LANDLORD OR TENANT OR SUB-TENANT IS
 INTENDED TO APPLY TO COOPERATIVE ENTITIES AND SHAREHOLDERS,  TENANTS  OR
 SUB-TENANTS OF SUCH COOPERATIVE ENTITIES.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD04030-01-5

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