Bill Text: NY S02134 | 2025-2026 | General Assembly | Introduced

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Bill Title: Relates to requirements for a building owner to refuse to renew a lease under the real estate industry stabilization code; requires the owner of a building to be demolished to prove that such owner has the financial ability to complete demolition of the building.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2025-01-15 - REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT [S02134 Detail]

Download: New_York-2025-S02134-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          2134

                               2025-2026 Regular Sessions

                    IN SENATE

                                    January 15, 2025
                                       ___________

        Introduced  by Sens. KRUEGER, JACKSON -- read twice and ordered printed,
          and when  printed  to  be  committed  to  the  Committee  on  Housing,
          Construction and Community Development

        AN  ACT  to  amend  the  administrative code of the city of New York, in
          relation to requirements for a building owner to  refuse  to  renew  a
          lease when the building is to be demolished

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

     1    Section 1. Subparagraph (a) of paragraph 9 of subdivision c of section
     2  26-511 of the administrative code of the city of New York is amended  to
     3  read as follows:
     4    (a)  where  [he  or she] such owner establishes to the satisfaction of
     5  the division of housing and  community  renewal  that  such  owner:  (i)
     6  intends in good faith to demolish the building [and] and construct a new
     7  building;  (ii)  has  obtained from the department of buildings a permit
     8  [therefor from the department of buildings] for such demolition  project
     9  and  approved plans for the new building construction project; and (iii)
    10  has the financial ability to complete same; or
    11    § 2. This act shall take effect immediately; provided that the  amend-
    12  ments  to  subparagraph  (a)  of paragraph 9 of subdivision c of section
    13  26-511 of the administrative code of  the  city  of  New  York  made  by
    14  section  one  of  this act shall expire on the same date as such section
    15  expires and shall not affect the expiration of such section as  provided
    16  in section 26-520 of such code.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD04702-01-5