New York State Assembly

 
•  Summary 
 
•  Actions 
 
•  Committee Votes 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 
 
•  LFIN 
 
•  Chamber Video/Transcript 

S05472 Summary:

S05472 Actions:

S05472 Committee Votes:

S05472 Floor Votes:

S05472 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         5472--A
            Cal. No. 703
 
                               2021-2022 Regular Sessions
 
                    IN SENATE
 
                                      March 8, 2021
                                       ___________
 
        Introduced   by   Sens.  HOYLMAN,  ADDABBO,  BIAGGI,  BROOKS,  GAUGHRAN,
          GOUNARDES, HINCHEY, KAPLAN, LIU, MANNION, MARTUCCI, OBERACKER,  REICH-
          LIN-MELNICK,  SEPULVEDA,  STAVISKY  -- read twice and ordered printed,
          and when printed to be committed to  the  Committee  on  Judiciary  --
          recommitted  to  the  Committee on Judiciary in accordance with Senate
          Rule 6, sec. 8 -- reported favorably from said committee,  ordered  to
          first  and second report, ordered to a third reading, passed by Senate
          and delivered to the Assembly, recalled, vote  reconsidered,  restored
          to  third  reading, amended and ordered reprinted, retaining its place
          in the order of third reading
 
        AN ACT to amend the real property law, in relation to requiring  disclo-
          sure of information concerning flood insurance on residential leases
 
          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  231-b to read as follows:
     3    § 231-b. Flood history and risk notice in residential leases. 1. Every
     4  residential  lease  shall  provide  notice  of the following information
     5  related to the previous flood history and  current  flood  risk  of  the
     6  leased premises, as follows:
     7    (a)  whether  any  or  all of the leased premises is located wholly or
     8  partially in a Federal Emergency Management Agency  ("FEMA")  designated
     9  floodplain;
    10    (b)  whether  any  or  all of the leased premises is located wholly or
    11  partially in the Special Flood Hazard  Area  ("SFHA";  "100-year  flood-
    12  plain")  according  to  FEMA's current Flood Insurance Rate Maps for the
    13  leased premises' area;
    14    (c) whether any or all of the leased premises  is  located  wholly  or
    15  partially  in  a Moderate Risk Flood Hazard Area ("500-year floodplain")
    16  according to FEMA's current Flood Insurance Rate  Maps  for  the  leased
    17  premises' area; and
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02362-04-2
        S. 5472--A                          2
 
     1    (d)  whether  the leased premises has experienced any flood damage due
     2  to a natural flood event, such as heavy rainfall, coastal  storm  surge,
     3  tidal inundation, or river overflow.
     4    2.  Every residential lease shall also contain the following notice to
     5  tenants: "Flood insurance is available to renters  through  the  Federal
     6  Emergency  Management Agency's (FEMA's) National Flood Insurance Program
     7  (NFIP) to cover your personal property and contents in the  event  of  a
     8  flood.  A  standard  renter's  insurance policy does not typically cover
     9  flood damage. You are encouraged to examine  your  policy  to  determine
    10  whether you are covered."
    11    § 2. This act shall take effect on the one hundred eightieth day after
    12  it  shall  have become a law. Effective immediately the addition, amend-
    13  ment and/or repeal of any rule or regulation necessary for the implemen-
    14  tation of this act on its effective date are authorized to be  made  and
    15  completed on or before such date.