S885B

Senate Print 885B, a bill to amend the Multiple Residence Law sponsored by Senator Hinchey, was laid aside on Calendar Number 1267 following a motion by Senator Lanza. No debate or vote occurred.

The New York State Senate passed legislation establishing a statewide short-term rental registration system, with supporters arguing it will provide municipalities with critical data on vacation rentals and help enforce existing regulations without imposing new mandates. The bill, sponsored by Sen. Hinchey, passed 39-23 on a largely party-line vote. The measure creates an optional state registry for municipalities, requires hosts to carry $300,000 in liability insurance plus full property value coverage, and ensures tax collection from short-term rentals. Supporters, including tourism and municipal organizations, said the bill addresses housing shortages by providing transparency on how many residential units have been converted to vacation rentals. However, Republican opponents argued the bill will drive informal rentals underground by imposing excessive costs on occasional homeowners, particularly in rural areas where families rely on seasonal rentals to afford property taxes. Sen. Borrello warned the insurance requirements and registration fees will force some families to sell vacation properties handed down through generations. Sen. Skoufis expressed concern the bill overregulates home-sharing and eliminates a financial lifeline for working-class families. The bill takes effect 120 days after becoming law.