Bill > A05585

This bill establishes central depository databases for governmental real property transaction records at both the state and county levels, utilizing advanced digital technologies to improve record-keeping and security. Specifically, the bill defines several technical terms related to digital record management, including distributed ledger technology, tokenization, digitalization, blockchain, and federated blockchain. The Commissioner of General Services at the state level and county or city registrars are authorized to create and maintain these databases, which will use distributed ledger technology to compile, store, and secure real estate records. The key innovations include creating redundant, immutable, and permissioned data systems that increase efficiency, create transparency, and prevent improper access or hacking of government real estate records. The databases will be accessible to state agencies, municipalities, and taxpayers, and will use advanced technologies like federated blockchain to ensure secure and reliable data storage. By implementing these digital record-keeping methods, the bill aims to modernize and improve the management of government real property transaction records with enhanced security and accessibility.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A5585