Assembly BillIntroduced
A 7031: Decreases the percentage of votes needed for the election of board members in mutual housing companies with twelve thousand or more units to twenty percent plus one to constitute a majority for shareholder approval of such board members.
What A 7031 does, verified January 8, 2026
The bill proposes to amend the Private Housing Finance Law to change the voting requirements for the election of board members in mutual housing companies with twelve thousand or more units. Currently, a shareholder vote requires a majority to elect board members, but the bill proposes to increase the threshold to twenty percent plus one. This change aims to make it more difficult for shareholders to elect board members, potentially reducing the risk of conflicts of interest. The proposed change would take effect immediately.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: referred to housing (2026-01-07)Alert me
Quick answers about A 7031
- What is the current status of A 7031?
- As of January 8, 2026, A 7031 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "referred to housing".
- Did A 7031 pass?
- Not yet. A 7031 has been introduced and has not passed either house.
- Who wrote A 7031, and where is it now?
- A 7031 was authored by Asm. Michael Benedetto. Its committee of record is Assembly Housing.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | referred to housing |
| Mar. 18, 2025 | referred to housing |
Latest bill textIntroduced version, March 18, 2025 · 184 words
STATE OF NEW YORK ________________________________________________________________________ 7031 2025-2026 Regular Sessions IN ASSEMBLY March 18, 2025 ___________ Introduced by M. of A. BENEDETTO -- read once and referred to the Committee on Housing AN ACT to amend the private housing finance law, in relation to the number of votes needed for the election of board members in mutual housing companies with twelve thousand or more units The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 13-c of the private housing finance law is amended 2 by adding a new subdivision 6 to read as follows: 3 6. Any shareholder vote involving the election of board members of a 4 mutual housing company with twelve thousand or more units shall only 5 require twenty percent plus one to constitute a majority for shareholder 6 approval of such board members. 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10374-02-5
Text of A 7031 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions