New York A 3169: Relates to the disclosure of information on the fiscal health of a condominium, cooperative apartment building or cooperative community

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A03169 Summary:

BILL NOA03169 

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SAME ASNo Same As

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SPONSORRosenthal

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COSPNSR

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MLTSPNSR

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Ren §§339-gg, 339-hh & 339-ii to be §§339-mm, 339-nn & 339-oo, add §339-gg, RP L

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Relates to the disclosure of information on the fiscal health of a condominium, cooperative apartment building or cooperative community to prospective buyers, current owners and the condominium board or the cooperative board.

Go to top A03169 Actions:

BILL NOA03169 

&nbsp

01/23/2025referred to housing

01/07/2026referred to housing

Go to topA03169 Committee&nbspVotes:

Go to topA03169 Floor&nbspVotes:

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

Go to topA03169 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 3169

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 23, 2025
 ___________

 Introduced by M. of A. ROSENTHAL -- read once and referred to the
 Committee on Housing

 AN ACT to amend the real property law, in relation to the disclosure of
 information on the fiscal health of a condominium, cooperative apart-
 ment building or cooperative community to prospective buyers, current
 owners and the condominium board or the cooperative board

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Sections 339-gg, 339-hh and 339-ii of the real property law
 2 are renumbered sections 339-mm, 339-nn and 339-oo and a new section
 3 339-gg is added to read as follows:
 4 § 339-gg. Auditors report. 1. Upon discovery of any written document
 5 or any other form of evidence which would materially impact an auditor's
 6 professional findings about the fiscal health of a condominium, cooper-
 7 ative apartment building or cooperative community, the auditor shall
 8 disclose such finding to prospective buyers, current owners and the
 9 condominium board or the cooperative board.
 10 2. Disclosure shall be made in written form and shall be delivered to
 11 the prospective buyer or buyers within a reasonable time after discov-
 12 ery.
 13 3. Upon written demand by prospective buyers, current owners, the
 14 condominium board or the cooperative board, the auditor shall provide a
 15 copy of the completed report within a reasonable time after such request
 16 is made.
 17 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD05610-01-5

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