New York Senate Bill S07320

New York 2025-2026 Regular Session

• Introduced: 4/10/25
• Refer: 4/10/25

Caption

Prohibits discriminatory practices by real estate appraisers; furthers fair housing compliance.

Summary

Bill S07320 aims to amend the executive law and state finance law to prohibit discriminatory practices by real estate appraisers. It defines 'real estate appraisal' broadly to include all individuals and entities involved in residential appraisals, regardless of certification status. The bill establishes that it is unlawful for appraisers to discriminate based on various personal characteristics, including race, gender identity, and disability, among others. Additionally, it mandates that a portion of fines collected from violations be allocated to an anti-discrimination in housing fund to support fair housing compliance initiatives.

Impact

If enacted, this bill would significantly strengthen anti-discrimination measures within the real estate appraisal process in New York. It would expand the definition of appraisal services to include unlicensed individuals, thereby increasing accountability across the board. The bill also establishes financial penalties for discriminatory practices, which would contribute to funding programs aimed at promoting fair housing and addressing complaints of discrimination in appraisals.

Sentiment

The general sentiment surrounding Bill S07320 appears to be supportive, particularly among advocates for fair housing and anti-discrimination. There is a recognition of the need to address systemic biases in real estate appraisals, which have historically affected marginalized communities. However, there may be concerns from some stakeholders regarding the implications for appraisers and potential challenges in implementation.

Contention

Notable points of contention may arise from real estate professionals and appraisers who could argue that the bill imposes excessive regulations and could hinder their ability to conduct appraisals based on legitimate market factors. Additionally, there may be debates about the effectiveness of the proposed measures in truly eliminating bias versus merely increasing oversight.