New York Senate Bill 5874 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on March 20 2023 - 25% progression, died in committee
Action: 2024-01-03 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
Pending: Senate Housing, Construction, and Community Development Committee
Text: Latest bill text (Introduced) [HTML]

Requires owner of a multiple dwelling to procure and maintain fire insurance on such multiple dwelling in the amount of the full cost to replace such multiple dwelling; requires owners of multiple dwellings to use insurance proceeds to replace such multiple dwellings; deems void provisions in other documents which are contrary to such insurance requirement; provides that failure to comply with such provisions shall constitute a misdemeanor; gives tenants a right to resume occupancy upon restoration of such multiple dwelling.

Requires owner of a multiple dwelling to procure and maintain fire insurance on such multiple dwelling in the amount of the full cost to replace such multiple dwelling; requires owners of multiple dwellings to use insurance proceeds to replace such multiple dwellings; deems void provisions in other documents which are contrary to such insurance requirement; provides that failure to comply with such provisions shall constitute a misdemeanor; gives tenants a right to resume occupancy upon restoration of such multiple dwelling.

Sen. Kevin Parker [D]

Date	Chamber	Action
2024-01-03	Senate	REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
2023-03-20	Senate	REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Type	Source
Summary	https://www.nysenate.gov/legislation/bills/2023/S5874
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=S05874&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S05874