The act, as detailed in a press release from the governor's office on Monday, will prevent residential evictions, foreclosure proceedings, credit discrimination, and negative credit reporting connected with the ongoing COVID-19 pandemic. Furthermore, it will extend the Senior Citizens' Homeowner Exemption and Disabled Homeowner Exemption from 2020 to 2021.
In a statement, Gov. Cuomo said the legislation was crafted as a way to ensure New Yorkers "still have homes" to provide themselves and their loved ones with the protection necessary to continue forward in the pandemic era.
"This law adds to previous executive orders by protecting the needy and vulnerable who, through no fault of their own, face eviction during an incredibly difficult period for New York," Gov. Cuomo said Monday. "The more support we provide for tenants, mortgagors and seniors, the easier it will be for them to get back on their feet when the pandemic ends."
A moratorium has been placed on residential evictions until May 1 of next year for tenants who submit a hardship declaration explaining how the pandemic has affected their finances. Those who don't submit such declarations, however, can still be evicted by landlords. A moratorium has also been placed on residential foreclosure proceedings.
Per the New York Times, the act stands as "one of the most comprehensive anti-eviction laws in the nation."