Bill Text: NY A07876 | 2021-2022 | General Assembly | Amended

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Bill Title: Requires every residential lease to provide notice of information concerning flood insurance.

Spectrum: Strong Partisan Bill (Democrat 51-4)

Status: (Introduced - Dead) 2022-06-01 - substituted by s5472a [A07876 Detail]

Download: New_York-2021-A07876-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         7876--A

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                      May 28, 2021
                                       ___________

        Introduced  by  M.  of  A.  CARROLL, WALKER, GALLAGHER, BARNWELL, JONES,
          ANDERSON, STERN, ROZIC, QUART, PAULIN, CYMBROWITZ,  GOTTFRIED,  DINOW-
          ITZ,  GRIFFIN,  NOLAN, ABINANTI, SANTABARBARA, L. ROSENTHAL, McDONALD,
          LAVINE, THIELE, OTIS, HEVESI, DAVILA, SEAWRIGHT, D. ROSENTHAL,  LUPAR-
          DO,  JACOBSON,  FERNANDEZ,  O'DONNELL,  CUSICK, KELLES, BURDICK, FAHY,
          GALEF, STECK, MAGNARELLI, WOERNER,  BARRETT,  STIRPE,  SIMON,  HUNTER,
          DURSO,  GANDOLFO,  NIOU, CRUZ, MIKULIN, MONTESANO, ENGLEBRIGHT -- read
          once and referred to the Committee on Judiciary -- recommitted to  the
          Committee  on  Judiciary in accordance with Assembly Rule 3, sec. 2 --
          committee discharged, bill amended, ordered reprinted as  amended  and
          recommitted to said committee

        AN  ACT to amend the real property law, in relation to requiring disclo-
          sure of information concerning flood insurance on residential leases

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

     1    Section  1.   The real property law is amended by adding a new section
     2  231-b to read as follows:
     3    § 231-b. Flood history and risk notice in residential leases. 1. Every
     4  residential lease shall provide  notice  of  the  following  information
     5  related  to  the  previous  flood  history and current flood risk of the
     6  leased premises, as follows:
     7    (a) whether any or all of the leased premises  is  located  wholly  or
     8  partially  in  a Federal Emergency Management Agency ("FEMA") designated
     9  floodplain;
    10    (b) whether any or all of the leased premises  is  located  wholly  or
    11  partially  in  the  Special  Flood Hazard Area ("SFHA"; "100-year flood-
    12  plain") according to FEMA's current Flood Insurance Rate  Maps  for  the
    13  leased premises' area;
    14    (c)  whether  any  or  all of the leased premises is located wholly or
    15  partially in a Moderate Risk Flood Hazard Area  ("500-year  floodplain")

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02362-03-2
        A. 7876--A                          2

     1  according  to  FEMA's  current  Flood Insurance Rate Maps for the leased
     2  premises' area; and
     3    (d)  whether  the leased premises has experienced any flood damage due
     4  to a natural flood event, such as heavy rainfall, coastal  storm  surge,
     5  tidal inundation, or river overflow.
     6    2.  Every residential lease shall also contain the following notice to
     7  tenants: "Flood insurance is available to renters  through  the  Federal
     8  Emergency  Management Agency's (FEMA's) National Flood Insurance Program
     9  (NFIP) to cover your personal property and contents in the  event  of  a
    10  flood.  A  standard  renter's  insurance policy does not typically cover
    11  flood damage. You are encouraged to examine  your  policy  to  determine
    12  whether you are covered."
    13    § 2. This act shall take effect on the one hundred eightieth day after
    14  it  shall  have become a law. Effective immediately the addition, amend-
    15  ment and/or repeal of any rule or regulation necessary for the implemen-
    16  tation of this act on its effective date are authorized to be  made  and
    17  completed on or before such date.