STATE OF NEW YORK ________________________________________________________________________

7876--A

2021-2022 Regular Sessions

IN ASSEMBLY

May 28, 2021 ___________

Introduced by M. of A. CARROLL, WALKER, GALLAGHER, BARNWELL, JONES, ANDERSON, STERN, ROZIC, QUART, PAULIN, CYMBROWITZ, GOTTFRIED, DINOW- ITZ, GRIFFIN, NOLAN, ABINANTI, SANTABARBARA, L. ROSENTHAL, McDONALD, LAVINE, THIELE, OTIS, HEVESI, DAVILA, SEAWRIGHT, D. ROSENTHAL, LUPAR- DO, JACOBSON, FERNANDEZ, O'DONNELL, CUSICK, KELLES, BURDICK, FAHY, GALEF, STECK, MAGNARELLI, WOERNER, BARRETT, STIRPE, SIMON, HUNTER, DURSO, GANDOLFO, NIOU, CRUZ, MIKULIN, MONTESANO, ENGLEBRIGHT -- read once and referred to the Committee on Judiciary -- recommitted to the Committee on Judiciary in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee

AN ACT to amend the real property law, in relation to requiring disclo- sure of information concerning flood insurance on residential leases

The People of the State of New York, represented in Senate and Assem- bly, do enact as follows:

1 Section 1. The real property law is amended by adding a new section 2 231-b to read as follows: 3 § 231-b. Flood history and risk notice in residential leases. 1. Every 4 residential lease shall provide notice of the following information 5 related to the previous flood history and current flood risk of the 6 leased premises, as follows: 7 (a) whether any or all of the leased premises is located wholly or 8 partially in a Federal Emergency Management Agency ("FEMA") designated 9 floodplain; 10 (b) whether any or all of the leased premises is located wholly or 11 partially in the Special Flood Hazard Area ("SFHA"; "100-year flood- 12 plain") according to FEMA's current Flood Insurance Rate Maps for the 13 leased premises' area; 14 (c) whether any or all of the leased premises is located wholly or 15 partially in a Moderate Risk Flood Hazard Area ("500-year floodplain")

EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD02362-03-2

A. 7876--A 2

1 according to FEMA's current Flood Insurance Rate Maps for the leased 2 premises' area; and 3 (d) whether the leased premises has experienced any flood damage due 4 to a natural flood event, such as heavy rainfall, coastal storm surge, 5 tidal inundation, or river overflow. 6 2. Every residential lease shall also contain the following notice to 7 tenants: "Flood insurance is available to renters through the Federal 8 Emergency Management Agency's (FEMA's) National Flood Insurance Program 9 (NFIP) to cover your personal property and contents in the event of a 10 flood. A standard renter's insurance policy does not typically cover 11 flood damage. You are encouraged to examine your policy to determine 12 whether you are covered." 13 § 2. This act shall take effect on the one hundred eightieth day after 14 it shall have become a law. Effective immediately the addition, amend- 15 ment and/or repeal of any rule or regulation necessary for the implemen- 16 tation of this act on its effective date are authorized to be made and 17 completed on or before such date.