Bill Text: NY A09952 | 2011-2012 | General Assembly | Introduced
Bill Title: Provides for the exemption of a lease valued at $150,000 or less, held and occupied by the judgment debtor or family for a rent stabilized regulated unit from the satisfaction of a money judgment for bankruptcy proceedings.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2012-04-26 - referred to judiciary [A09952 Detail]
Download: New_York-2011-A09952-Introduced.html
S T A T E O F N E W Y O R K ________________________________________________________________________ 9952 I N A S S E M B L Y April 26, 2012 ___________ Introduced by M. of A. ROSENTHAL -- read once and referred to the Committee on Judiciary AN ACT to amend the civil practice law and rules, in relation to provid- ing for the exemption of rent regulated apartment leases from the satisfaction of a money judgment THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Paragraphs 8 and 9 of subdivision (a) of section 5205 of 2 the civil practice law and rules, paragraph 8 as amended by chapter 1 of 3 the laws of 2011 and paragraph 9 as added by chapter 568 of the laws of 4 2010, are amended to read as follows: 5 8. one motor vehicle not exceeding four thousand dollars in value 6 above liens and encumbrances of the debtor; if such vehicle has been 7 equipped for use by a disabled debtor, then ten thousand dollars in 8 value above liens and encumbrances of the debtor; provided, however, 9 that this exemption for one motor vehicle shall not apply if the debt 10 enforced is for child support, spousal support, maintenance, alimony or 11 equitable distribution, or if the state of New York or any of its agen- 12 cies or any municipal corporation is the judgment creditor; [and] 13 9. A LEASE NOT EXCEEDING ONE HUNDRED FIFTY THOUSAND DOLLARS IN VALUE, 14 HELD AND OCCUPIED BY THE JUDGMENT DEBTOR OR FAMILY FOR A RENT REGULATED 15 UNIT, REGULATED UNDER THE RENT STABILIZATION LAW OF NINETEEN HUNDRED 16 SIXTY-NINE, THE EMERGENCY TENANT PROTECTION ACT OF NINETEEN 17 SEVENTY-FOUR, THE EMERGENCY HOUSING RENT CONTROL LAW, THE LIMITED-PROFIT 18 HOUSING COMPANIES ACT OR THE CITY RENT AND REHABILITATION LAW; AND 19 10. if no homestead exemption is claimed, then one thousand dollars in 20 personal property, bank account or cash. 21 S 2. This act shall take effect immediately and shall apply to the 22 satisfaction of judgments on or after such date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14993-04-2