Bill Text: NY S09152 | 2017-2018 | General Assembly | Introduced

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Bill Title: Requires a market and financial feasibility study prior to approval of an application to construct a hotel or motel in a city with a population of over one million; requires such study to be provided to the municipal authority reviewing such application.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2018-08-17 - REFERRED TO RULES [S09152 Detail]

Download: New_York-2017-S09152-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          9152
                    IN SENATE
                                     August 17, 2018
                                       ___________
        Introduced  by  Sen.  SAVINO -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules
        AN ACT to amend the general business law, in  relation  to  requiring  a
          market  and financial feasibility study prior to approval of an appli-
          cation to construct a hotel or motel in a city with  a  population  of
          over one million
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. The general business law is amended by adding a new section
     2  209-h to read as follows:
     3    § 209-h. Required market and financial feasibility study. No  applica-
     4  tion  to  construct  a new hotel or motel in a city with a population of
     5  over one million shall be approved without the  applicant  having  first
     6  obtained  a  market  and  financial  feasibility study. Said study shall
     7  analyze market demand and financial feasibility for the  proposed  hotel
     8  or motel project, as well as the effect on the surrounding neighborhood.
     9  Said study shall be provided to the relevant municipal authority review-
    10  ing such application to construct a new hotel or motel.
    11    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD16479-01-8