S 7600 NY
Directs condominium and cooperative housing associations to complete capital reserve studies
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Summary
Directs condominium and cooperative housing associations to complete capital reserve studies, including a thirty-year funding plan, in order to ensure that the condominium or cooperative housing association has adequate reserve funds available to repair or replace the assets located on the property that the association is obligated to maintain without the need to create any special assessment or loan obligation; specifies the content of the study; requires the study to be filed with the attorney general.
Sponsor (1)
- Siela Bynoe Democratic · primary
Action history (3)
- Apr 23, 2025 REFERRED TO JUDICIARY · upper
- May 28, 2025 REPORTED AND COMMITTED TO FINANCE · upper
- Jan 7, 2026 REFERRED TO JUDICIARY · upper
Text versions (2)
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