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NY S04531
Bill
Status
2/6/2025
Primary Sponsor
Michael Gianaris
Click for details
AI Summary
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Creates new crime of "unlawful dealing in real property" for using non-public material governmental information to buy or sell property based on expected value changes related to that information
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Defines "material governmental information" as information about awarding or approval of tax incentives, tax abatements, PILOT agreements, bonds, loans, grants, contracts, land use decisions, zoning approvals, and SEQRA decisions
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Covers information from any state or local government entity including authorities, boards, commissions, industrial development agencies, and regional economic development councils
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Classifies the offense as a class A misdemeanor (punishable by up to 1 year in jail)
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Takes effect 180 days after becoming law
Legislative Description
Relates to unlawful dealing in real property, when a person uses material governmental information, which such person knows or has reason to know is non-public, to purchase or sell real property; makes such offense a class A misdemeanor.
Last Action
REFERRED TO CODES
1/7/2026