New York A 5946: Relates to price gouging of medicine

Bill Text

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A05946 Summary:

BILL NOA05946 

&nbsp

SAME ASNo Same As

&nbsp

SPONSORFitzpatrick (MS)

&nbsp

COSPNSR

&nbsp

MLTSPNSRManktelow

&nbsp

Add Art 12-E §§448 - 448-f, RP L

&nbsp

Creates the real property regulatory impacts act; provides that the owner of any real property may bring an action against the state whenever the application of any state statute, rule or regulation to such property causes a diminution in value of fifty percent or more.

Go to top A05946 Actions:

BILL NOA05946 

&nbsp

02/25/2025referred to judiciary

01/07/2026referred to judiciary

Go to topA05946 Committee&nbspVotes:

Go to topA05946 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA05946 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5946

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 25, 2025
 ___________

 Introduced by M. of A. FITZPATRICK -- Multi-Sponsored by -- M. of A.
 MANKTELOW -- read once and referred to the Committee on Judiciary

 AN ACT to amend the real property law, in relation to the real property
 regulatory impacts act

 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 article
 2 12-E to read as follows:

 3 ARTICLE 12-E
 4 REAL PROPERTY REGULATORY IMPACTS ACT

 5 Section 448. Short title.
 6 448-a. Definitions.
 7 448-b. Attorney general rule review.
 8 448-c. Diminution in value.
 9 448-d. Invalidation.
 10 448-e. Statute of limitations.
 11 448-f. Constitutional or statutory rights not restricted.
 12 § 448. Short title. This article shall be known and may be cited as
 13 the "real property regulatory impacts act".
 14 § 448-a. Definitions. For the purposes of this article, the following
 15 terms shall have the following meanings:
 16 1. "Diminution in value of fifty percent or more" means a fifty
 17 percent reduction in the fair market value of the real property subject
 18 to any state statute, regulation or rule, or to the denial of any
 19 permit, license or authorization by the state.
 20 2. "Inverse condemnation" means a suit against the state to recover
 21 money damages equal to the diminution in the fair market value of the
 22 property.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08971-01-5

 A. 5946 2

 1 3. "Owner" means the owner of the real property at the time the state
 2 statute, regulation or rule took effect, or the owner at the time that
 3 the permit, license or authorization was denied by the state.
 4 4. "Taking of private property" means an activity wherein private
 5 property is taken such that compensation to the owner of that property
 6 is required by the fifth and fourteenth amendments to the constitution
 7 of the United States or by section four hundred forty-eight-c of this
 8 article.
 9 5. "Person" means a person or persons having an interest which is or
 10 may be adversely affected by the statute, regulation or rule, or by the
 11 provision or condition of any permit, license or authorization.
 12 § 448-b. Attorney general rule review. No rule or regulation promul-
 13 gated by any state agency, division, board or commission shall become
 14 effective until the attorney general has reviewed such rule or regu-
 15 lation and has informed the issuing entity in writing as to the poten-
 16 tial of such rule or regulation to result in a taking of private proper-
 17 ty.
 18 § 448-c. Diminution in value. 1. Cause of action. The owner of any
 19 real property may bring an action against the state whenever the appli-
 20 cation of any state statute, rule or regulation to such real property,
 21 or the denial of any permit, license or authorization of any kind by the
 22 state causes a diminution in value of the property of fifty percent or
 23 more.
 24 2. Jurisdiction. Such action may be filed in supreme court which shall
 25 have exclusive jurisdiction of the claim, and the owner shall be enti-
 26 tled to a trial by jury. In such action, the owner may either recover:
 27 (a) a sum equal to the diminution in value of the real property, and
 28 retain title thereto; or
 29 (b) the entire fair market value of the real property prior to the
 3