New York Assembly Bill A08770

New York 2025-2026 Regular Session

• Introduced: 6/2/25
• Refer: 6/2/25
• Refer: 1/7/26

Caption

Requires sellers of new residential construction to inform buyers of any price increase caused by tariffs on building materials.

Summary

This bill would add a new section to the General Business Law requiring sellers and agents involved in the sale of new residential construction to disclose any portion of the sale price that increased because of tariffs on building materials. The disclosure would apply when a newly built home or unit is advertised for sale or sold for the first time, including single-family homes, multi-family homes, condominiums, and cooperative units sold under a condominium or cooperative regime. It would not apply to dwellings built solely for lease, mobile homes, homes the builder has continuously occupied or leased for at least three years after completion, or properties that have already been sold except where the prior sale was for resale. The bill defines a “tariff cost estimate” as the portion of a price increase directly or indirectly attributable to federal tariffs, including tariffs on steel, lumber, and other goods used in residential construction materials. If the listed or agreed price has been increased because of such tariff-related costs, the seller or agent must clearly identify that increase in listings, promotional materials, third-party websites, and purchase agreements or contracts, including as an itemized line alongside taxes or fees or in another compliant format.

Impact

The bill would create a new consumer disclosure requirement in New York’s General Business Law for the sale of newly constructed residential property. It would affect builders, developers, real estate sellers, agents, and listing platforms by requiring them to itemize and communicate tariff-related price increases in advertising and sale documents. Buyers of new homes and new units would receive more transparency about how much of the purchase price is tied to tariff-driven material costs, and sellers could need to revise marketing and contract practices to comply.

Sentiment

Based on the bill text and the absence of recorded committee debate or votes, the measure appears to be framed as a consumer transparency and housing-cost disclosure bill rather than a controversial regulatory overhaul. Its stated purpose suggests support for buyer information and price clarity in a market affected by construction input costs. Because there is no transcript or voting history provided, there is no documented public sentiment in the record beyond the bill’s apparent policy rationale.

Contention

The main point of potential contention is whether requiring tariff-related price disclosure imposes additional administrative burdens on builders, sellers, and agents, especially where price increases may be difficult to isolate or attribute precisely to tariffs. Another possible issue is the bill’s focus on federal tariffs as a driver of housing costs, which could raise debate over whether the state should require this specific kind of price attribution in private real estate transactions. On the other hand, supporters would likely emphasize consumer protection and transparency for homebuyers facing higher new-construction prices.