Bill Text: NY A01867 | 2025-2026 | General Assembly | Introduced

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Bill Title: Relates to requirements for a building owner to refuse to renew a lease under the real estate industry stabilization code; requires the owner of a building to be demolished to prove that such owner has the financial ability to complete demolition of the building.

Spectrum: Partisan Bill (Democrat 5-0)

Status: (Introduced) 2025-01-14 - referred to housing [A01867 Detail]

Download: New_York-2025-A01867-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          1867

                               2025-2026 Regular Sessions

                   IN ASSEMBLY

                                    January 14, 2025
                                       ___________

        Introduced  by  M. of A. ROSENTHAL, EPSTEIN, BICHOTTE HERMELYN, BURDICK,
          SEAWRIGHT -- read once and referred to the Committee on Housing

        AN ACT to amend the administrative code of the  city  of  New  York,  in
          relation  to  requirements  for  a building owner to refuse to renew a
          lease when the building is to be demolished

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section 1. Subparagraph (a) of paragraph 9 of subdivision c of section
     2  26-511  of the administrative code of the city of New York is amended to
     3  read as follows:
     4    (a) where [he or she] such owner establishes to  the  satisfaction  of
     5  the  division  of  housing  and  community  renewal that such owner: (i)
     6  intends in good faith to demolish the building [and] and construct a new
     7  building; (ii) has obtained from the department of  buildings  a  permit
     8  [therefor  from the department of buildings] for such demolition project
     9  and approved plans for the new building construction project; and  (iii)
    10  has the financial ability to complete same; or
    11    §  2. This act shall take effect immediately; provided that the amend-
    12  ments to subparagraph (a) of paragraph 9 of  subdivision  c  of  section
    13  26-511  of  the  administrative  code  of  the  city of New York made by
    14  section one of this act shall expire on the same date  as  such  section
    15  expires  and shall not affect the expiration of such section as provided
    16  in section 26-520 of such code.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04702-01-5