Action in Albany Bills of Interest to Co-ops and Condos

A03813--Automatic Application Approval--Requires applications to purchase condominiums or cooperatives to be acted upon within sixty days. Failure to do so would result in an automatic approval. 02/04/2005 referred to Housing 04/06/2005 amended and recommitted to Housing 04/06/2005 print number 3813a

A00259--Providing Written Consent or Denial--Requires applicants seeking to purchase condominiums or cooperatives to be given a written statement of reasons when their purchase is denied by a co-op or condo board. 01/10/2005 referred to Governmental Operations

A00580--Ownership of Pets By Senior Homeowners--Allows persons 62 years or older to keep and care for common household pets in municipal housing; prevents eviction of such persons based on the ownership of pets; provides that any pet who poses a nuisance to the community may be removed; does not remove any pet owner from liability for the reasonable costs directly attributable to any damage caused by the pet. 01/18/2005 referred to Housing

A01108--Remediation and Prevention of Mold--Relates to the remediation and prevention of indoor mold and requires the disclosure of indoor mold history upon the sale of certain real property; also requires the disclosure of indoor mold history upon the sale of residential real property. 01/18/2005 referred to Housing

A02996--Stock Transfer Exemption--Amends the tax law in relation to co-ops. The measure places a five-cent tax on each share for all sales of co-op shares. The law currently allows for the rebate of the tax if the seller requests it. All sales of cooperative shares must be accompanied by special stamps that must be affixed to the certificates of each sale. Failure to purchase them can result in a fine of $500-$1,000 or imprisonment for up to six months. 01/31/2005 referred to Ways and Means Committee

A04420--Conversion to Co-ops and Condos--amends the general business law relating to conversion of residential property to cooperative or condominium ownership; defines security obligations, resident shareholders control, and direct payment of rent. Also raises percentages needed to declare non-eviction plans effective; delineates tenant`s exclusive right to purchase; regulates the physical condition of a building being converted, among other things. Once this bill is approved, only non-eviction co-opting would be permitted. 02/10/2005 referred to Housing

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