File #: Int 0901-2024    Version: * Name: Requiring the office of financial empowerment to provide assistance to homeowners
Type: Introduction Status: Committee
Committee: Committee on Consumer and Worker Protection
On agenda: 5/16/2024
Enactment date: Law number:
Title: A Local Law to amend the administrative code of the city of New York, in relation to requiring the office of financial empowerment to provide assistance to homeowners
Sponsors: Kevin C. Riley, Lincoln Restler, Justin L. Brannan, Jennifer Gutiérrez
Council Member Sponsors: 4
Summary: This bill would require the Office of Financial Empowerment in coordination with the Office of the Homeowner Advocate to provide support and counseling to homeowners and their heirs in order to protect their asset. Such support would include financial planning, mortgage counseling and scam prevention.
Attachments: 1. Summary of Int. No. 901, 2. Int. No. 901, 3. May 16, 2024 - Stated Meeting Agenda, 4. Hearing Transcript - Stated Meeting 5-16-24

Int. No. 901

 

By Council Members Riley, Restler, Brannan and Gutiérrez

 

A Local Law to amend the administrative code of the city of New York, in relation to requiring the office of financial empowerment to provide assistance to homeowners

 

Be it enacted by the Council as follows:

 

Section 1. Section 20-701 of the administrative code of the city of New York is amended by adding a new subdivision f to read as follows:

f. Homeowner. The term “homeowner” has the same meaning as set forth in subdivision a of section 1807 of the charter.

§ 2. Subchapter 1 of chapter 5 of title 20 of the administrative code of the city of New York is amended by adding a new section 20-706.6 to read as follows:

§ 20-706.6 Outreach and education on asset protection for homeowners. The department’s office of financial empowerment and its financial education providers, in coordination with the office of the homeowner advocate, shall provide support and counseling to homeowners and their heirs on topics such as scam prevention, mortgage counseling, municipal payment assistance, repair financing, financial planning and estate planning.

§ 3. This local law takes effect 180 days after it becomes law.

SS

LS #16032

4/9/24