BILL NUMBER: S4569

SPONSOR: BAILEY
 
TITLE OF BILL:

An act to amend the executive law, in relation to prohibiting discrimi-
nation during the appraisal of real property

 
PURPOSE:

To prohibit real estate appraisers from appraising a home at a lower
value because of the homeowner's age, race, creed, color, national
origin, sexual orientation, gender identity or expression, military
status, sex, disability, predisposing genetic characteristics, familial
status, marital status or status as a victim of domestic violence.

 
SUMMARY OF PROVISIONS:

Section one of the bill amends section 296 of the executive law to
prohibit this form of discrimination. Section two sets forth the effec-
tive date.

              

 
JUSTIFICATION:

A 2022 Brookings Institution study found that homes in majority-Black
neighborhoods are valued lower than similar homes in neighborhoods with
few Black residents, and that bias in the appraisal process partly
explains this discrepancy. There have also been recent news reports in
which Black homeowners in New York State have had their homes appraised
for significantly less than their White neighbors.  Housing discrimi-
nation has taken many forms in this country. Insofar as home-appraisal
bias plays a role in perpetuating inequality, this bill aims to prohibit
home appraisers from discriminating against any homeowner belonging to a
protected class.

 
FISCAL IMPACT:

None.

 
LEGISLATIVE HISTORY:

2021-22: S7005 - Referred to investigations and Government Operations

2023-24: S2325 - Referred to Investigations and Government Operations

 
EFFECTIVE DATE:
This act shall take effect on the thirtieth day after it shall have
become a law.