When legislation is proposed that has the potential to impact our business, the bill is reviewed by a Legislative Committee Team.
Bills that are relevant but not disruptive are rated Priority 3. Bills that concern title insurance but have an unclear or uncertain impact are rated Priority 2. Priority 2 bills are closely watched by our lobbyists for amendments and the velocity of its progress through the two chamber of the legislature.
Bills that directly impact title insurance, either positively or negatively call for action and are rated Priority 1 by the Legislative Committee. Priority 1 bills are taken up by the Advocacy Committee, our professional lobbyists, and any NYSLTA Committee that may be effected by the bills passage.
Each Priority 1 bill is treated separately. The action taken may be contacting the bill sponsor to offer guidance, issuing a memorandum in support of in opposition to the bill or providing subject matter expertise. Priority 1 bills may also involve collaborating with non-title entities such as the Association of County Clerks, the Mortgage Bankers Association, and the Bar Association - to name a few.
| A5073A | Hunter CO: Steck, Wallace, Buttenschon, Hawley, Zebrowski, McDonald
Prohibits mortgagees from requiring mortgagors of certain real property to purchase flood insurance exceeding certain limits
Same as S 7125-A BRESLIN
SUMM :Add S283, RP L Prohibits mortgagees from requiring mortgagors of certain residential real property to purchase flood insurance exceeding a coverage amount that exceeds the balance as of the beginning of the year for which the policy shall be in effect, or that includes coverage for contents.
12/02/24 delivered to governor
12/13/24 signed chap.557
12/13/24 approval memo.28 | Old Bill:A4424 of 2022 | | Old Bill Last Act:02/01/22 REFERRED TO JUDICIARY | |
| S967A | RYAN CO: HARCKHAM, PALUMBO
Relates to delinquent tax interest rates
Same as A 1489-A Thiele
SUMM :Amd S924-a, RPT L Relates to setting a minimum and maximum delinquent tax interest rate for payments due on residential real property.
12/13/24 VETOED MEMO.92 | Old Bill:S6310B of 2022 | | Old Bill Last Act:01/05/22 REFERRED TO LOCAL GOVERNMENT | |
| S9059 | SKOUFIS
Extends the enforcement of the collection of delinquent real property taxes and the collection of taxes by banks and enforces the collection of taxes in certain villages
Same as A 9136 Otis
SUMM :Amd S6, Chap 602 of 1993 Extends the enforcement of the collection of delinquent real property taxes and the collection of taxes by banks; enforces the collection of taxes in certain villages.
12/13/24 VETOED MEMO.109 |
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