Assembly BillVetoed
A 174: Prohibits rent minimums in all mortgages regardless of when issued.
What A 174 does, verified October 17, 2025
The proposed bill aims to prohibit mortgage lenders from penalizing borrowers for not setting a high enough rent on their properties. This means that if a borrower fails to set a high enough rent, the lender cannot charge them a fee, force them to default on the loan, or penalize them in any other way. All terms of the mortgage that would cause a borrower to be penalized for not setting a high enough rent are considered void and unenforceable against public policy. The bill applies to all mortgages, regardless of when they were issued, renewed, modified, altered, or amended.
Bill journey
✓IntroducedComplete
✓In CommitteeComplete
✓First Chamber FloorComplete
✓Second ChamberComplete
5GovernorCurrent
6ChapteredPending
Last action: tabled (2025-10-17)Alert me
Author and sponsors
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| Oct. 17, 2025 | tabled |
| Oct. 16, 2025 | vetoed memo.32 |
| Oct. 09, 2025 | delivered to governor |
| Jun. 13, 2025 | RETURNED TO ASSEMBLY |
| Jun. 13, 2025 | PASSED SENATE |
Latest bill textIntroduced version, January 8, 2025 · 228 words
STATE OF NEW YORK ________________________________________________________________________ 174 2025-2026 Regular Sessions IN ASSEMBLY (Prefiled) January 8, 2025 ___________ Introduced by M. of A. R. CARROLL, ANDERSON, JACKSON, MITAYNES -- read once and referred to the Committee on Judiciary AN ACT to amend the real property law, in relation to prohibiting rent minimums in mortgages The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The real property law is amended by adding a new section 2 284 to read as follows: 3 § 284. Rent minimums prohibited. No mortgagor on a loan secured prima- 4 rily by an interest in real property shall be charged a fee, forced to 5 default, or otherwise penalized by the mortgagee because the mortgagor 6 did not set a high enough rent on all or part of such real property. 7 All terms of a mortgage which would cause a mortgagor to be penalized 8 for not setting a high enough rent shall be void and unenforceable as 9 against public policy. 10 § 2. This act shall take effect immediately and shall apply to all 11 mortgages regardless of when issued, renewed, modified, altered or 12 amended. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD00490-01-5
Text of A 174 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions