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S 6346

Requires cooperative housing corporations provide a prospective purchaser with a written statement of reasons when withholding consent to a purchase

2025 Regular Session Introduced by James Sanders

Cooperative housing boards must provide a written statement of reasons when withholding consent to a purchase, clarifying decisions for prospective buyers.

REFERRED TO CODES
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WeVote Research Nonpartisan
Bill Summary · S 6346

Summary of Bill S 6346

Overview

Bill S 6346, introduced on March 11, 2025, would require cooperative housing corporations to provide a prospective purchaser with a written statement detailing the reasons if the corporation withholds consent to a purchase. The bill is currently referred to the Codes Committee. James Sanders Jr. is the primary sponsor. A companion measure exists in the Assembly (A 7803), with several related Senate bills from prior sessions (S 6439, S 4551, S 2124, S 1449, S 5789).

  • Bill number: S 6346
  • Title: Requires cooperative housing corporations provide a prospective purchaser with a written statement of reasons when withholding consent to a purchase
  • Status: Referred to Codes
  • Introduced: March 11, 2025
  • Primary sponsor: James Sanders Jr.
  • Related/companion: A 7803

What the bill would do

  • Core requirement: If a cooperative housing corporation withholds its consent to a prospective sale or transfer, it must provide the prospective purchaser with a written statement of the reasons for withholding consent.

Key provisions (as stated)

  • Written notice of reasons: The bill mandates a written explanation or statement of the grounds on which consent is withheld.
  • Applicability: Applies to cooperative housing corporations involved in the approval process for prospective purchasers.

Note: The available information does not include the full text, timelines for compliance, standards for what constitutes a sufficient “reason,” or any potential deadlines for supplying the statement. Details beyond the core requirement are not specified in the provided materials.

Who would be affected

  • Prospective purchasers of cooperative housing units: They would receive a formal written explanation when consent to purchase is withheld.
  • Cooperative housing corporations/boards: They would be required to provide the written statement and ensure compliance with the new disclosure requirement.
  • Real estate professionals and attorneys: They may reference the written statement in transactions and advise clients based on the stated reasons.

Procedural status and timeline

  • Status: Referred to Codes; no further actions listed.
  • Legislative actions to date: Two entries on 2025-03-11 show the referral to Codes.
  • Next steps: If moved forward, the bill would be scheduled for committee hearings, potential amendments, and floor votes in the Senate and Assembly. If enacted, it would become law and take effect according to any effective date specified in the final language.

Context and related legislation

  • Related Senate bills from prior sessions (S 6439, S 4551, S 2124, S 1449, S 5789) suggest ongoing interest in enhancing transparency around co-op consent decisions.
  • Assembly companion: A 7803.

Potential impact and considerations

  • Transparency and due process: The requirement could reduce ambiguity and disputes by clarifying why consent is withheld.
  • Administrative burden: Cooperatives may need to implement processes to generate and document written reasons.
  • Legal considerations: The breadth and specificity of “reasons” could raise questions about privacy, fair housing concerns, or over-disclosure; future amendments may address these issues.

For readers tracking this bill, the key development to watch is whether it advances through the Codes Committee and how the written-reason standard is defined in any final version.

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

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