Bill Text: NY A07923 | 2023-2024 | General Assembly | Introduced

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Bill Title: Prohibits insurers from requiring a property owner to disclose the presence of tenants receiving rental assistance; prohibits coverage refusal due to the presence of tenants receiving rental assistance.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to insurance [A07923 Detail]

Download: New_York-2023-A07923-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          7923

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                     August 4, 2023
                                       ___________

        Introduced  by  M.  of  A. L. ROSENTHAL -- read once and referred to the
          Committee on Insurance

        AN ACT to amend the insurance law, in relation to  prohibiting  insurers
          from  requiring  a  property owner to disclose the presence of tenants
          receiving rental assistance and prohibiting coverage  refusal  due  to
          the presence of tenants receiving rental assistance

          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. Rental assistance disclosure.  No insurer shall, on an appli-
     4  cation for a policy of insurance on property, require a  property  owner
     5  to disclose whether such property owner rents any portion of the proper-
     6  ty  to  a  tenant who receives any rental assistance provided by a city,
     7  state, or federal agency, housing authority, or other entity wherein the
     8  tenant's portion of the rent is limited to a percentage of the  tenant's
     9  income.
    10    § 2. The insurance law is amended by adding a new section 3463 to read
    11  as follows:
    12    §  3463.  Tenants  receiving rental assistance; coverage refusal.  (a)
    13  For purposes of this section, "insured" means a current policyholder  or
    14  a person or entity that is covered under a property insurance policy.
    15    (b)  An insurer that issues or delivers a policy in this state on real
    16  property and the buildings and improvements thereon  shall  not  cancel,
    17  refuse to issue, refuse to renew, or increase the premium of a policy or
    18  exclude, limit, restrict, or reduce coverage under such policy solely on
    19  the  basis  that  any tenants of such property receive rental assistance
    20  from a city, state, or federal agency, housing authority, or other enti-
    21  ty where the tenant's portion of the rent is limited to a percentage  of
    22  the tenant's income.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11964-01-3
        A. 7923                             2

     1    (c)  Nothing in this section shall prohibit an insurer from canceling,
     2  refusing to renew, increasing the premium  of  an  insurance  policy  or
     3  excluding, limiting, restricting, or reducing coverage under such policy
     4  due  to  other  factors  that are permitted by any other section of this
     5  chapter.
     6    § 3. This act shall take effect immediately.