Prohibits rent minimums in mortgages

Latest action Oct 17, 2025

Prohibits rent minimums in all mortgages regardless of when issued.

Not chosen yet

Where it stands

Rejected by the executive.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

Vetoed

New York State Senate

Same as A174, the matching bill in the Assembly.

Passed as A174, the matching Assembly bill.

Amends the Real Property Law.

Committee

Judiciary · New York State Assembly

Also referred to Judiciary · New York State Senate, Rules · New York State Assembly, Rules · New York State Senate.

Purpose, from the sponsor's memo

This bill would prohibit mortgagees from penalizing or defaulting on mortgagors for not charging a high enough rent. Eliminating the minimum rent requirement for mortgagors will incentivize landlords to rent prop- erties at a lower rate and not risk defaulting.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Floor vote
NY SenateJun 13, 2025Result: passedSenate vote on A174, the matching Assembly bill.
(39) (20) (0) (4)
Vote: Committee vote · Rules
Senate RulesJun 12, 2025Result: passed
(15) (5) (0) (1)

Cosponsors

Chantel Jackson, Jen Lunsford and 3 more on Agora

Democratic5

See the full list on nysenate.gov

The sponsor's argument

Why Liz Krueger says this is needed

The economics for small businesses in New York were only made more difficult by COVID-19 and vacant storefronts are widespread. For New York's small businesses to recover, it is critical for commercial rents to be cut. This bill would allow for landlords to rent space for less than the minimum stipulated in their mortgage and would render any terms in the mortgage which would cause a mortgagor to be penalized for not setting a high enough rent to be void and unenforceable as against public policy. This legislation, if enacted would incentive landlords to fill storefronts without fear of default.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

Oct 17, 2025
Tabled
TABLED
NY Assembly
Oct 16, 2025
Vetoed
VETOED MEMO.32
NY Assembly
Oct 9, 2025
Sent to the executive
DELIVERED TO GOVERNOR
NY Assembly
Jun 13, 2025
3RD Reading CAL.1960
3RD READING CAL.1960
NY Senate
Jun 13, 2025
Passed a chamber
PASSED SENATE
NY Senate

Show full history (12 earlier events)

Jun 13, 2025
Substituted
SUBSTITUTED FOR S1163
NY Senate
Jun 12, 2025
In committee
COMMITTEE DISCHARGED AND COMMITTED TO RULES
NY Senate
Jun 12, 2025
Ordered to Third Reading CAL.1960
ORDERED TO THIRD READING CAL.1960
NY Senate
Jun 11, 2025
Sent to the executive
DELIVERED TO SENATE
NY Assembly
Jun 11, 2025
Passed a chamber
PASSED ASSEMBLY
NY Assembly
Jun 11, 2025
Referred to committee
REFERRED TO RULES
NY Senate
May 21, 2025
Reported out of committee
REPORTED
NY Assembly
May 21, 2025
Rules Report CAL.194
RULES REPORT CAL.194
NY Assembly
May 20, 2025
Reported out of committee
REPORTED REFERRED TO RULES
NY Assembly
May 13, 2025
Reported out of committee
REPORTED REFERRED TO CODES
NY Assembly
Jan 8, 2025
Referred to committee
REFERRED TO JUDICIARY
NY Assembly
Jan 8, 2025
Referred to committee
REFERRED TO JUDICIARY
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 21, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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