Bill Text: NY S08540 | 2023-2024 | General Assembly | Introduced

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Bill Title: Requires VA home loan training in the required training for real estate brokers.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-02-12 - REFERRED TO JUDICIARY [S08540 Detail]

Download: New_York-2023-S08540-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          8540

                    IN SENATE

                                    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:

     1    Section 1. Paragraph (a) of subdivision 3 of section 441 of  the  real
     2  property  law, as separately amended by chapters 686 and 688 of the laws
     3  of 2021, is amended to read as follows:
     4    (a) No renewal license shall be issued any licensee under this article
     5  for any license period commencing November first, nineteen hundred nine-
     6  ty-five unless such licensee shall have within the two year period imme-
     7  diately preceding such renewal attended at least twenty-two and one-half
     8  hours which shall include at least  two  hours  of  cultural  competency
     9  training, at least three hours of instruction pertaining to fair housing
    10  and/or  discrimination  in  the  sale  or  rental of real property or an
    11  interest in real property, at least two hours of instruction  pertaining
    12  to  implicit  bias  awareness  and  understanding,  at least one hour of
    13  instruction pertaining to a VA Home Loan,  at  least  two  and  one-half
    14  hours  of instruction pertaining to ethical business practices, at least
    15  one hour of instruction pertaining to recent legal matters governing the
    16  practice of real estate brokers and salespersons in New York  which  may
    17  include  statutes,  laws, regulations, rules, codes, department of state
    18  opinions and decisions, and court decisions and at  least  one  hour  of
    19  instruction  pertaining  to  the law of agency except in the case of the
    20  initial two-year licensing term for real estate salespersons, two  hours
    21  of  agency  related  instruction  must  be  completed,  and successfully
    22  completed a continuing education real estate course or courses  approved
    23  by  the  secretary of state as to method, content and supervision, which
    24  approval may be withdrawn if in the opinion of the  secretary  of  state
    25  such  course  or  courses are not being conducted properly as to method,
    26  content and supervision. For  those  individuals  licensed  pursuant  to
    27  subdivision  six of section four hundred forty-two-g of this article, in
    28  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.
                                                                   LBD10864-01-3
        S. 8540                             2

     1  required  twenty-two and one-half hours of continuing education shall be
     2  completed during the first year of the  term.  Of  those  eleven  hours,
     3  three  hours  shall  pertain  to  applicable New York state statutes and
     4  regulations  governing the practice of real estate brokers and salesper-
     5  sons. To establish compliance with the continuing education requirements
     6  imposed by this section, licensees shall provide an affidavit, in a form
     7  acceptable to the department of state, establishing the  nature  of  the
     8  continuing  education  acquired  and shall provide such further proof as
     9  required by the department of state.  For purposes of this  subdivision,
    10  "implicit  bias"  shall mean the attitudes or stereotypes that affect an
    11  individual's understanding, actions  and  decisions  in  an  unconscious
    12  manner  and  "VA  Home  Loan" shall mean any loan defined pursuant to 38
    13  USCA § 3710.
    14    § 2. This act shall take effect immediately.