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S 1323 New York Senate · 2025 Regular Session

Relates to prohibiting pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership

Summary
Prohibits pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership where over fifty percent of the units are shareholder occupied.
Issues: ✓ HousingSupports HousingProhibits pre-payment penalties for co-op mortgages, reducing financial barriers for affordable housing residents in cooperative ownership models.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2025 Last action Jun 13, 2025
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
5
Key actions
0
Committee
2
Jun 13, 2025
Committee
COMMITTED TO RULES
upper
Jan 9, 2025
Committee
REFERRED TO JUDICIARY
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Brad Hoylman-Sigal
Brad Hoylman-Sigal
DDemocratic/Working Families
NY
47