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NY S01634
Bill
Status
3/26/2024
Primary Sponsor
Brian Kavanagh
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AI Summary
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Increases civil penalty for violations of vacant and abandoned property maintenance requirements from $500 to $650 per day per property.
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Allows municipalities and municipal landbanks to share vacant property registry information with each other for coordinating enforcement efforts related to abandoned properties.
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Establishes new civil penalty of up to $5,000 per property for lenders, assignees, or mortgage loan servicers who fail to submit required information about vacant and abandoned properties to the Department of Financial Services within 21 business days.
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Requires lenders and servicers to provide additional contact information including direct phone numbers and email addresses for parties responsible for maintaining vacant properties and authorized to fund maintenance.
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Mandates the superintendent of financial services to publish an annual report by February 15th detailing vacant and abandoned properties by county, city, and town, including duration on registry.
Legislative Description
Relates to penalties for failure to comply with maintenance and reporting of vacant and abandoned properties, and reporting and release of information; provides for the sharing of information between municipalities; provides for enforcement for failure to report on abandoned and vacant properties.
Last Action
referred to judiciary
3/26/2024