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Bill

A 1701

Relates to the treatment of cooperative housing entities

2025 Regular Session Introduced by Ed Braunstein and 3 co-sponsors

A 1701 changes how cooperative housing entities are treated under law, affecting governance, financing, and regulation for co-ops, boards, residents, and lenders.

REFERRED TO HOUSING
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WeVote Research Nonpartisan
Bill Summary · A 1701

Summary of Assembly Bill A 1701

Overview

  • Bill Number: A 1701
  • Title: Relates to the treatment of cooperative housing entities
  • Status: Referred to the Assembly Housing Committee
  • Introduced: January 14, 2025
  • Classification: Assembly bill

Sponsorship

  • Primary Sponsor: Edward Braunstein
  • Cosponsors: MaryJane Shimsky, Jo Anne Simon, Harvey Epstein

Legislative Actions

  • 2025-01-14: Referred to Housing (listed twice in the record)
  • Related bills and companions indicate cross-chamber and prior-session activity (see below).

Related Bills

  • A 7330 (prior-session) – related topic in a prior year
  • S 1745 (companion) – Senate counterpart (listed twice)

What the Bill Does (Key Provisions)

  • The exact text and substantive provisions of A 1701 are not provided in the information given.
  • Known focus: The bill relates to the “treatment of cooperative housing entities,” which likely concerns legal, regulatory, or policy treatment affecting cooperative housing (co-ops).
  • Because the specific provisions (e.g., changes to tax treatment, governance rules, financing, eligibility for programs, reporting requirements, or agency oversight) are not included, the precise changes and their practical effects cannot be stated here.

Potential Impact (General)

  • Affects cooperative housing entities (co-ops), and potentially their boards, residents, and affiliated lenders or program administrators.
  • Depending on the enacted text, implications could include changes to:
    • How co-ops are taxed or regulated
    • Governance or fiduciary duties of cooperative boards
    • Access to funding, subsidies, or housing programs
    • Reporting or compliance requirements for co-ops
  • The bill’s placement in the Housing Committee suggests a focus on housing policy, regulation, or programs related to cooperative housing.

Affected Parties

  • Cooperative housing corporations and boards
  • Residents/owners living in co-ops
  • Financing institutions and lenders involved with co-ops
  • State or local housing agencies implementing or enforcing housing policies

Procedural Timeline & Next Steps

  • After introduction, the bill was referred to the Assembly Housing Committee.
  • Track for potential committee hearings, amendments, and votes in the Housing Committee, followed by floor action in the Assembly and potential Senate companion progression (S 1745) or related actions on A 7330.
  • For the exact provisions and to understand the full impact, review the official bill text and any fiscal notes or analysis released by the sponsor or committee.

Notes

  • The duplicate “REFERRED TO HOUSING” entries in the legislative actions appear to be a database artifact rather than separate actions.
  • To provide a precise, point-by-point summary, the full bill text and any sponsors’ memos or fiscal impact statements should be consulted.

Compiled from official sources — confirm details with the bill’s official record.

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