New York 2025 Session Status: Introduced

S9796 — Relates to prohibiting pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership

Last action — In Senate Committee

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed Assembly
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the Senate. Introduced April 06, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Prognosis

Not enough signal yet

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

In plain language

The bill prohibits pre-payment penalties on certain cooperative mortgages.

This legislation bars lenders from imposing pre-payment penalties on mortgages for properties owned cooperatively, provided over half the units are shareholder occupied. This change aims to benefit those living in cooperative housing by allowing them more flexibility in managing their mortgages.

What this means for you
  • Families: This means families living in cooperative housing can pay off their mortgages early without extra charges.

Summary

Prohibits pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership where over fifty percent of the units are shareholder occupied.

Bill Text

Action History

  1. COMMITTED TO RULES

  2. ADVANCED TO THIRD READING

  3. 2ND REPORT CAL.

  4. 1ST REPORT CAL.1189

  5. REFERRED TO JUDICIARY

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 218 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (218)

218 members have not signed on to this bill.

Show all 218 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

housing
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does S9796 do?
Prohibits pre-payment penalties for mortgages secured by real property owned in a cooperative form of ownership where over fifty percent of the units are shareholder occupied.
Who sponsors S9796?
S9796 is sponsored by Luis R. Sepúlveda.
What is the current status of S9796?
This bill has been introduced in the Senate. Introduced April 06, 2026. It must pass committee before a floor vote.
Where can I track S9796?
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Last checked for changes 3 months ago · updated continuously

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