New York S 10169: Establishes the "tenant opportunity to purchase act"

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S10169 Summary:

BILL NOS10169 

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SAME ASNo Same As

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SPONSORSALAZAR

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COSPNSRMYRIE, BAILEY, BRISPORT, BROUK, CLEARE, COONEY, FERNANDEZ, GIANARIS, GONZALEZ, HINCHEY, JACKSON,
 MAY, PARKER, RAMOS, RIVERA, SANDERS, SEPULVEDA, SERRANO, WEBB

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MLTSPNSR

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Add Art 7-E §§799 - 799-t, RPAP L

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Establishes the "tenant opportunity to purchase act"; prevents the displacement of middle and lower-income tenants in New York; preserves affordable housing by providing an opportunity for tenants to own or remain renters in the properties in which they reside.

Go to top S10169 Actions:

BILL NOS10169 

&nbsp

05/04/2026REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Go to topS10169 Committee&nbspVotes:

Go to topS10169 Floor&nbspVotes:

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

Go to topS10169 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10169

 IN SENATE

 May 4, 2026
 ___________

 Introduced by Sen. SALAZAR -- read twice and ordered printed, and when
 printed to be committed to the Committee on Housing, Construction and
 Community Development

 AN ACT to amend the real property actions and proceedings law, in
 relation to establishing the tenant opportunity to purchase act

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

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "tenant opportunity to purchase act".
 3 § 2. The real property actions and proceedings law is amended by
 4 adding a new article 7-E to read as follows:
 5 ARTICLE 7-E
 6 TENANT OPPORTUNITY TO PURCHASE ACT
 7 Section 799. Definitions.
 8 799-a. Authority.
 9 799-b. Applicability.
 10 799-c. Exemptions.
 11 799-d. Right of first refusal.
 12 799-e. Tenant decision-making; tenant organizations.
 13 799-f. Qualified purchasers.
 14 799-g. Supportive partners.
 15 799-h. Assignment of rights.
 16 799-i. Waiver of rights.
 17 799-j. Notice requirements.
 18 799-k. Third-party purchaser rights.
 19 799-l. Right to appraisal.
 20 799-m. Purchase contract negotiation.
 21 799-n. No selling of rights.
 22 799-o. Tenant protections.
 23 799-p. Price stabilization.
 24 799-q. Incentives.
 25 799-r. Enforcement.
 26 799-s. Statutory construction.
 27 799-t. Administration and reports.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD01564-01-5

 S. 10169 2

 1 § 799. Definitions. For the purposes of this article, the following
 2 terms shall have the following meanings:
 3 1. "AMI" or "area median income" means area median income established
 4 by the U.S. department of housing and urban development (HUD), pursuant
 5 to 42 U.S.C. § 1427 et seq., to establish local income classification
 6 levels.
 7 2. "Appraised value" means the value of the rental housing accommo-
 8 dation as of the date of the appraisal, based on an objective, independ-
 9 ent property valuation, performed according to professional appraisal
 10 industry standards.
 11 3. "Bona fide offer of sale" means an offer of sale for a rental hous-
 12 ing accommodation that is either:
 13 (a) For a price and other material terms at least as favorable to a
 14 tenant, tenant organization, and qualified purchaser as those that the
 15 owner has offered, accepted, or is considering offering or accepting,
 16 from a purchaser in an arm's length third-party purchase contract; or
 17 (b) In the absence of an arm's length third-party purchase contract,
 18 an offer of sale containing a sales price less than or equal to a price
 19 and other material terms comparable to that at which a willing seller
 20 and a willing buyer would sell and purchase the rental housing accommo-
 21 dation, or an appraised value.
 22 4. "CPI" or "consumer price index" means the consumer price index
 23 published by the United States department of labor, bureau of labor
 24 statistics for the northeast census region. If publication of the
 25 consumer price index ceases, or if it is otherwise unavailable or is
 26 altered in a way as to be unusable, DHCR shall determine the use of an
 27 appropriate substitute index published by the United States department
 28 of labor, bureau of labor statistics or any successor a