New York A 5227: Creates deductions for creation or improvements of child care facilities

Bill Text

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A05227 Summary:

BILL NOA05227 

&nbsp

SAME ASSAME AS S05089

&nbsp

SPONSORReyes (MS)

&nbsp

COSPNSRSayegh, Jacobson, Simon, DeStefano, Cruz, Taylor

&nbsp

MLTSPNSRCook, Epstein

&nbsp

Add §339-mm, RP L

&nbsp

Creates a residential condominium owner's bill of rights that includes the right to transparency, the right to timely decisions, voting rights, the right to notice, and the right against extraordinary expenses.

Go to top A05227 Actions:

BILL NOA05227 

&nbsp

02/12/2025referred to housing

01/07/2026referred to housing

Go to topA05227 Committee&nbspVotes:

Go to topA05227 Floor&nbspVotes:

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

Go to topA05227 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5227

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 12, 2025
 ___________

 Introduced by M. of A. REYES, SAYEGH, JACOBSON, SIMON, DeSTEFANO, CRUZ,
 TAYLOR -- Multi-Sponsored by -- M. of A. COOK, EPSTEIN -- read once
 and referred to the Committee on Housing

 AN ACT to amend the real property law, in relation to creating a resi-
 dential condominium owner bill of rights

 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 section
 2 339-mm to read as follows:
 3 § 339-mm. Residential condominium owner's bill of rights. The organ-
 4 izational and operating documents of a not-for-profit residential condo-
 5 minium association established or operating pursuant to the laws of the
 6 state and managing the common charges, elements, expenses, or profits of
 7 thirty-five hundred or more units shall guarantee the following rights
 8 to each unit owner.
 9 1. The right to transparency. Complete and accurate financial state-
 10 ments, reports of hired accountants and consultants on behalf of the
 11 association, reports by municipal or county inspectors, and approved
 12 minutes of the board of managers' meetings shall be available for review
 13 within a timely fashion of a request to review, inspect, or copy. Any
 14 financial statements, reports, or minutes ordinarily provided to unit
 15 owners shall be provided in a timely fashion pursuant to established
 16 timetables. In addition to any other notice required, the approved
 17 minutes of all board and unit owner meetings shall be posted in a promi-
 18 nent place accessible to all unit owners in each building comprising the
 19 condominium within one day of their approval. For the purposes of this
 20 subdivision, "financial statements" shall include a complete accounting
 21 for all expenditures, capital improvements, or anything in excess of the
 22 contingency fund including the budget, a comparison of any and all
 23 bidding processes for work to be done on the condominium including work
 24 that was conducted and the amounts of the contributions of each owner

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08079-01-5

 A. 5227 2

 1 whether individual or group sponsored, billings, estimates, overages,
 2 and proof of the expenditures that comprise the total of the surcharge
 3 and minutes of each meeting where the planning and voting on the
 4 proposal was discussed with all the owners, for any and all expenditures
 5 not made in the ordinary course of business, bank account and financial
 6 investment statements, and the association's IRS form nine-hundred-nine-
 7 ty, if applicable, for each of the three most current fiscal years.
 8 2. The right to timely decisions. All applications by unit owners in
 9 connection with matters which require approval of the board of managers
 10 and all requests for determinations by the board of managers including,
 11 but not limited to, requests for the resolution of disputes between or
 12 among unit owners, disputes between unit owners and the condominium
 13 association such as disputes concerning responsibility for repairs shall
 14 be processed in a reasonably expeditious manner pursuant to uniform
 15 procedures and timetables adopted in writing. The board's decision shall
 16 be in writing and shall set forth the reasons therefor, except that no
 17 reason shall be required when approval is granted.
 18