NY S00395

Creates the Office of the Cooperative and Condominium Ombudsman within the Department of Law, overseen by the Attorney General, with an ombudsman appointed by the Attorney General who must be an attorney with extensive experience in real estate, cooperative and condominium law, and alternative dispute resolution.

Ombudsman functions include educating residents and boards about their legal rights, providing alternative dispute resolution services, monitoring cooperative and condominium elections upon petition by 15 percent of voting interests or six residential unit owners, and making annual reports to the Governor, Attorney General, and Legislature.

Establishes a $6 annual residential unit fee payable by cooperative housing corporations and homeowners associations for each residential unit, with all revenue deposited into a new Office of the Cooperative and Condominium Ombudsman Fund.

Office shall maintain a principal office in New York City and satellite offices in areas with significant concentrations of cooperative or condominium housing, and is authorized to subpoena witnesses, require document production, and engage with courts and state agencies to resolve disputes.

Takes effect 180 days after becoming law.