New York S 5072: Authorizes municipalities to purchase private residential real property located in a floodplain

Bill Text

Bill Search and Legislative Information | New York State Assembly 

• 

• 

• 

• 

• 

• 

• 

• 

 Skip to main content 

 New York State Assembly

 Speaker Carl E. Heastie

 --> 
 --> 

 --> 

• 
 Assembly Members 

• 
 Legislative Info 

• 
 Public Hearings 

• 
 Speaker's Press 

• 
 Assembly Reports 

• 
 Committees & More 

• Bill Search Home
• Laws
• Legislative Calendar
• Public Hearing Schedule
• Assembly Calendars
• Assembly Committee Agenda 

 Javascript must be enabled to properly view this page. 

 Bill No.: 

• Summary 
• Actions 
• Committee&nbspVotes 
• Floor&nbspVotes 
• Memo 
• Text 
• LFIN 
• Chamber&nbspVideo/Transcript 
S05072 Summary:

BILL NOS05072 

&nbsp

SAME ASSAME AS A09424

&nbsp

SPONSORGRIFFO

&nbsp

COSPNSRTEDISCO

&nbsp

MLTSPNSR

&nbsp

Add §15-a, UDC Act

&nbsp

Authorizes municipalities to purchase private residential real property located in a floodplain.

Go to top S05072 Actions:

BILL NOS05072 

&nbsp

02/18/2025REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

01/07/2026REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS

Go to topS05072 Committee&nbspVotes:

Go to topS05072 Floor&nbspVotes:

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

Go to topS05072 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5072

 2025-2026 Regular Sessions

 IN SENATE

 February 18, 2025
 ___________

 Introduced by Sens. GRIFFO, TEDISCO -- read twice and ordered printed,
 and when printed to be committed to the Committee on Corporations,
 Authorities and Commissions

 AN ACT to amend the New York state urban development corporation act, in
 relation to authorizing municipalities to purchase private residential
 real property located in a floodplain

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

 1 Section 1. Section 1 of chapter 174 of the laws of 1968, constituting
 2 the New York state urban development corporation act, is amended by
 3 adding a new section 15-a to read as follows:
 4 § 15-a. Special provisions relating to private residential real prop-
 5 erty located in a floodplain. (1) Notwithstanding any provision of law
 6 to the contrary, but subject to any agreement with noteholders or bond-
 7 holders, any city, town or village is hereby authorized to purchase
 8 private residential real property which is located in a floodplain.
 9 (2) Notwithstanding any provision of law to the contrary, any struc-
 10 ture which is located on private residential real property located in a
 11 floodplain which is purchased by a city, town or village shall be demol-
 12 ished.
 13 (3) Notwithstanding any provision of law to the contrary, private
 14 residential real property acquired pursuant to this section shall be
 15 deemed public property and such property shall be dedicated as open
 16 space.
 17 (4) A city, town or village may offer to purchase private residential
 18 real property which is located in a floodplain for an amount up to or
 19 equal to the fair market value of such property as such property is or
 20 was valued prior to any flood damage.
 21 (5) A city, town, or village which elects to purchase private residen-
 22 tial real property which is located in a floodplain shall pay all costs
 23 typically associated with the sale of private residential real property,

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08567-01-5

 S. 5072 2

 1 including, but not limited to, fees for an appraisal, title search, or
 2 lot survey and any associated closing costs. The seller of such private
 3 residential real property shall be responsible for the payment of any
 4 mortgage, lien or other financial encumbrance on such property, as well
 5 as for any moving costs or costs associated with renting or buying new
 6 property.
 7 (6) No owner of private residential real property which is located in
 8 a floodplain shall be required to relinquish their real property;
 9 provided, however, that owners of such private residential real property
 10 may need to take risk mitigation measures, such as elevating any struc-
 11 tures on such property.
 12 § 2. This act shall take effect immediately.

Go to top 

• 

 Sitemap 

 Request Information 

 Directions and Maps