STATE OF NEW YORK ________________________________________________________________________ 7910--A 2023-2024 Regular Sessions IN ASSEMBLY August 4, 2023 ___________ Introduced by M. of A. WEPRIN, REYES, GALLAGHER, LEVENBERG, LEE, SHIM- SKY, GUNTHER, DICKENS, GONZALEZ-ROJAS, BURDICK, HEVESI, LUCAS, SEAWRIGHT, AUBRY, CRUZ, LUNSFORD, GLICK, ARDILA, SIMONE, WALLACE, SEPTIMO -- read once and referred to the Committee on Insurance -- recommitted to the Committee on Insurance 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 insurance law, in relation to prohibiting discrimi- nation because of the affordability of residential buildings The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The insurance law is amended by adding a new section 3462 2 to read as follows: 3 § 3462. Affordable housing underwriting and rating. (a) An insurer 4 that issues or delivers in this state a policy of insurance covering 5 loss of or damage to real property containing units for residential 6 purposes shall not inquire about on an application, nor shall an insurer 7 cancel, refuse to issue, refuse to renew or increase the premium of a 8 policy, or exclude, limit, restrict, or reduce coverage under a policy 9 based on, the following: 10 (1) The residential building contains dwelling units that shall be 11 affordable to residents at a specific income level pursuant to a statue, 12 regulation, regulatory agreement or restrictive declaration with a 13 local, state, or federal government entity; 14 (2) The real property owner or tenants of such residential building 15 receive rental assistance provided by a local, state, or federal govern- 16 ment entity wherein the tenant's portion of the rent is limited to a 17 percentage of such tenant's income; 18 (3) The level or source of income of the real property owner or the 19 tenants of the residential building; or EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10702-06-4A. 7910--A 2 1 (4) Whether such residential building is owned by a limited-equity 2 cooperative; owned by a public housing authority; or owned by a cooper- 3 ative housing corporation subject to the provisions of article two, 4 article four, article five or article eleven of the private housing 5 finance law. 6 (b) Nothing in this section shall prohibit an insurer from canceling, 7 refusing to issue, refusing to renew, increasing the premium of an 8 insurance policy or excluding, limiting, restricting, or reducing cover- 9 age under such policy due to other factors that are permitted by any 10 other section of this chapter. 11 § 2. This act shall take effect immediately.