Provides that the term "landlord" when used in the real property law, shall not include or apply to any corporation, entity or organization, hereinafter known as a "cooperative entity" that is or is operating for the purpose of providing housing and/or residences for its shareholders by leasing or subleasing to such shareholders, under proprietary leases or occupancy agreements or subleases of such leases or occupancy agreements of apartments or residences in the buildings or premises owned by such cooperative entities; makes related provisions for the term "tenant".
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A7330
SPONSOR: Braunstein TITLE OF BILL:
An act to amend the real property law, in relation to the treatment of
cooperative housing entities
PURPOSE:
Excludes tenant-shareholders in cooperative housing corporations and
cooperative entities from certain housing provisions
SUMMARY OF PROVISIONS:
Section 1 creates a new section, 220-A, of the real property law
Section 2 sets forth the effective date
JUSTIFICATION:
Cooperatives make up a significant part of New York City's housing stock
and are a uniaue form of homeownership in which purchasers buy shares in
an apartment corporation. As such, co-op owners are often referred to as
"tenant-shareholders," and cooperative buildings are unique from
rentals. Therefore, they cannot be compared to the traditional land-
lord-tenant relationship laid out in New York State housing law. To
prevent this confusion, the bill would establish that distinction by
carving out co-op tenant-shareholders and cooperative entities from
"tenant" and "landlord" language, respectively, in the housing law.
LEGISLATIVE HISTORY:
New bill.
FISCAL IMPLICATIONS:
None.
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
7330
2023-2024 Regular Sessions
IN ASSEMBLY
May 17, 2023
___________
Introduced by M. of A. BRAUNSTEIN -- read once and referred to the
Committee on Housing
AN ACT to amend the real property law, in relation to the treatment of
cooperative housing entities
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The real property law is amended by adding a new section
2 220-a to read as follows:
3 § 220-a. Treatment of cooperative housing entities. 1. Effective on or
4 after the effective date of this section, the term "landlord" shall not
5 include or apply to any corporation, entity or organization, hereinafter
6 known as a "cooperative entity" that is or is operating for the purpose
7 of providing housing and/or residences for its shareholders by leasing
8 or subleasing to such shareholders, under proprietary leases or occupan-
9 cy agreements or subleases of such leases or occupancy agreements of
10 apartments or residences in the buildings or premises owned by such
11 cooperative entities.
12 2. The term "tenant" shall not include any shareholder, tenant or
13 subtenant of cooperative entities, unless such legislation or chapter
14 specifically provides that such term landlord or tenant or sub-tenant is
15 intended to apply to cooperative entities and shareholders, tenants or
16 sub-tenants of such cooperative entities.
17 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD11265-01-3
