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NY A01608
Bill
Status
1/10/2025
Primary Sponsor
Linda Rosenthal
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AI Summary
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Increases the civil penalty for violating vacant and abandoned property maintenance requirements from $500 to $650 per day per property
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Allows municipalities that receive vacant property registry information from the Department of Financial Services to share that information with other municipalities and municipal land banks for coordination purposes
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Expands required reporting information for vacant properties to include title, mailing address, service of process address, direct phone number, and email address for each lender, assignee, and mortgage loan servicer responsible for maintenance or providing maintenance funds
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Creates a 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
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Requires the Superintendent of Financial Services to publish an annual report by February 15th detailing registry data by county, city, and town, including properties added, removed, and duration on the 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
1/7/2026