New York · 2025 Regular Session · Bill
S 2002: Provides that upon sale of a limited-profit housing company project, reserve and surplus funds must be held in escrow and dedicated to major capital improvements
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
S 2002 is a bill introduced in the New York Senate on January 14, 2025. According to its official title, it concerns: Provides that upon sale of a limited-profit housing company project, reserve and surplus funds must be held in escrow and dedicated to major capital improvements. Primary sponsor: Liz Krueger (Democratic/Working Families). It lists 6 additional sponsors. Most recent recorded action (January 7, 2026): REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Provides that upon sale or other conveyance of a limited-profit housing company project to an entity other than a new limited-profit housing company, reserve and surplus funds must be held in escrow by the new owner and dedicated solely to defraying the costs of major capital improvements; provides that no rental may be increased to cover the cost of a major capital improvement until such reserve and surplus funds have been exhausted.
Sponsors
Sponsors by party (alphabetical): Democratic 2 · Democratic/Working Families 4
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Liz Krueger | Primary sponsor | Democratic/Working Families | Senate | 28 |
| Jamaal Bailey | Co-sponsor | Democratic/Working Families | Senate | 36 |
| Brad Hoylman-Sigal | Co-sponsor | Not applicable (committee) | — | — |
| John Liu | Co-sponsor | Democratic | Senate | 16 |
| Gustavo Rivera | Co-sponsor | Democratic/Working Families | Senate | 33 |
| Luis Sepúlveda | Co-sponsor | Democratic | Senate | 32 |
| Jose Serrano | Co-sponsor | Democratic/Working Families | Senate | 29 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
- REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT