Bill > A08770

This bill requires sellers of new residential construction in New York to provide buyers with a detailed "tariff cost estimate" that transparently discloses any price increases directly or indirectly caused by federal tariffs on building materials such as steel and lumber. The bill defines "new residential construction" as recently constructed residential structures or units being sold for the first time, including single-family homes, multi-family homes, and condominiums, but excluding mobile homes, dwellings constructed solely for lease, and homes where the builder has resided for three or more years. Sellers must clearly indicate these tariff-related price increases in all sales listings, including websites, fliers, pamphlets, and purchase agreements, presenting the information as an itemized price breakdown alongside other taxes and fees. The goal is to ensure transparency for potential homebuyers by helping them understand how federal tariffs might be impacting the cost of their new home, and the bill will take effect immediately upon passage.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A8770