New York Senate bill in Session 2025-2026.
Status: in_committee. Latest action: January 7, 2026.
Requires replacement cost fire insurance on multiple dwellings and use of insurance proceeds to replace such multiple dwellings.
Requires owner of a multiple dwelling to procure and maintain fire insurance on such multiple dwelling in the amount of the full cost to replace such multiple dwelling; requires owners of multiple dwellings to use insurance proceeds to replace such multiple dwellings; deems void provisions in other documents which are contrary to such insurance requirement; provides that failure to comply with such provisions shall constitute a misdemeanor; gives tenants a right to resume occupancy upon restoration of such multiple dwelling.
| Date | Event | Detail |
|---|---|---|
| 2025-02-03 | Introduced | Bill introduced |
| 2026-01-07 | Status | in_committee |
| 2026-01-07 | Latest Action | In Senate Committee |