New York A 7340: Creates the real property regulatory impacts act

Bill Text

STATE OF NEW YORK
        ________________________________________________________________________
                                          7340
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                     April 24, 2017
                                       ___________
        Introduced  by  M.  of  A.  FITZPATRICK -- 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-D to read as follows:
     3                                ARTICLE 12-D
     4                    REAL PROPERTY REGULATORY IMPACTS ACT
     5  Section 447-a. Short title.
     6          447-b. Definitions.
     7          447-c. Attorney general rule review.
     8          447-d. Diminution in value.
     9          447-e. Invalidation.
    10          447-f. Statute of limitations.
    11          447-g. Constitutional or statutory rights not restricted.
    12    §  447-a. Short title. This article shall be known and may be cited as
    13  the "real property regulatory impacts act".
    14    § 447-b. 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  (underscored) is new; matter in bracketsitalics
                              [] is old law to be omitted. 
                                                                   LBD11136-01-7

        A. 7340                             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-seven-d  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    §  447-c. 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    §  447-d.  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
    30  diminution in value of fifty percent or more, and transfer title to  the
    31  state  upon  payment  of such fair market value. In any such action, the
    32  court may award reasonable and necessary costs, including attorney fees,
    33  to any prevailing plaintiff. If  the  statute,  rule  or  regulation  is
    34  rescinded,  or if the permit, license or authorization is granted, prior
    35  to final judgment, then the owner shall be entitled to  recover  in  the
    36  pending  action  any  reasonable and necessary costs, including attorney
    37  fees, incurred to date, together with any economic losses  sustained  by
    38  reason  of  the act