NY State Senate Bill 2025-S3861

Senate Bill S3861

2025-2026 Legislative Session

Authorizes the study of the number of senior citizens in New York state who have filed for bankruptcy in the past ten years

download bill text pdf

Current Bill Status - In Senate Committee Aging Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 30, 2025	referred to aging

2025-S3861 (ACTIVE) - Details

See Assembly Version of this Bill:: A4535
Current Committee:: Senate Aging
Law Section:: Elder
Versions Introduced in Other Legislative Sessions:: 2017-2018: A11364
2019-2020: S5354, A1043
2021-2022: S5590, A5595
2023-2024: S2507, A4343

2025-S3861 (ACTIVE) - Summary

Authorizes the study of the number of senior citizens in New York state who have filed for bankruptcy in the past ten years; provides that the director of the office for the aging shall deliver a copy of the findings of the study conducted and any legislative recommendations to the governor and the legislature.

2025-S3861 (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S3861

SPONSOR: COMRIE
 
TITLE OF BILL:

An act authorizing the study of the number of senior citizens in New
York state who have filed for bankruptcy in the past ten years; and
providing for the repeal of such provisions upon the expiration thereof

 
PURPOSE:

To direct the office for the aging to provide analysis for the underly-
ing causes which have resulted in bankruptcy filings among senior citi-
zens in New York.

 
SUMMARY OF SPECIFIC PROVISIONS:

  Section  1  directs the office for the aging to conduct a study on the
number of senior citizens in New York who have filed for  bankruptcy  in
the past ten years and the underlying causes of such filings.

  Section  2 requires the director of the office for the aging to report

the findings and make any recommendations to the legislature within  one
year of the bill's enactment.

  Section  3  authorizes  the  director  of  the office for the aging to
utilize state agencies and assisted. living facilities to collect  rele-
vant information for the study.

  Section 4 sets the effective date.

 
JUSTIFICATION:

Across  the  country, there has been a significant rise in the number of
senior citizens filing for bankruptcy in recent years.  There  are  many
financial burdens affecting seniors, including increasing medical costs,
loss  of  family  members,  and  high  levels  of debt carried over into
retirement. Conducting a study of senior bankruptcy  will  allow  us  to
determine  the scope of the problem in our state and identify underlying
causes to address in order to protect New  Yorkers  nearing  retirement.
This  bill is an important first step towards an informed, comprehensive
legislative solution to prevent bankruptcy among the elderly and support
the financial health of seniors throughout our state.

 
PRIOR LEGISLATIVE HISTORY:

2022: S5590

2017-2018: A11364

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
This act shall take effect immediately.

2025-S3861 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3861
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             January 30, 2025
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Aging
 
 AN ACT authorizing the study of the number of  senior  citizens  in  New
   York  state  who  have filed for bankruptcy in the past ten years; and
   providing for the repeal of such provisions upon the expiration there-
   of

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  office  for  the aging is authorized and directed to
 conduct a study on the number of senior citizens residing  in  New  York
 state who have filed for bankruptcy in the past ten years and the under-
 lying causes which resulted in such bankruptcy filings.
   §  2.  On or before one year after the effective date of this act, the
 director of the office for the aging shall deliver a copy of  the  find-
 ings  of the study conducted pursuant to section one of this act and any
 legislative recommendations such director deems necessary to the  gover-
 nor,  the  temporary  president  of  the  senate, and the speaker of the
 assembly.
   § 3. The director of the office for the  aging  may  request,  and  is
 authorized  to  receive,  any  information  from  any  state agencies or
 assisted  living  facilities  that  is  relevant  and  material  to  the
 completion  of  this  study and report. Such information received by the
 office for the aging shall be  subject  to  the  same  requirements  for
 confidentiality and limitations on use, if any, as is applicable to each
 such state agency's use of such information.
   §  4.  This  act  shall  take  effect  immediately and shall be deemed
 repealed thirty days after the delivery of the report  to  the  governor
 and the legislature as provided for in section two of this act; provided
 that the office for the aging shall notify the legislative bill drafting
 commission  upon  the  occurrence of the delivery of the report provided
 for in section two of this act in order that the commission may maintain

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05330-01-5

 S. 3861                             2
 
 an accurate and timely effective data base of the official text  of  the
 laws  of  the  state  of  New  York  in  furtherance of effectuating the
 provisions of section 44 of the legislative law and section 70-b of  the
 public officers law.

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