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.
LBD10702-06-4
A. 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.
