Two pieces of legislation have been signed to protect New Yorkers from increasingly frequent and extreme flooding.
The first piece of legislation directs the Department of Environmental Conservation to prioritize nature-based solutions to stabilize the state’s tidal shorelines. Governor Hochul said in a statement, “This legislation highlights our commitment to restoring natural habitats, which are our greatest natural barrier for extreme flooding, and safeguarding New Yorkers from the long-term dangers of flooding.”
A second piece of legislation establishes a flood risk “right to know” for homebuyers. This eliminates the previous practice by which buyers could receive a $500 credit if the disclosure requirement was waived. Flood risk, history, and insurance disclosures will now be required on real property transactions.
