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NYS Pay Transparency Law Went Into Effect • If the seller has received assistance, or is aware of any
September 2023 previous owners receiving assistance, from FEMA, the U.S.
Small Business Administration, or any other federal disaster
As a reminder, on December 21st of last year, Governor Kathy assistance for flood damage to the property;
Hochul signed legislation (S.9427-A/A.10477) establishing • Whether there is flood insurance on the property;
a statewide pay transparency law in New York State, requiring
employers with four or more workers to list salary ranges • If there is a FEMA elevation certificate available;
and hourly rates for all advertised jobs and promotions. The • If the seller has ever filed a claim for flood damage to the
requirement becomes effective as of September 2023. property with any insurance provider, including the National
You can view the Governor’s press release here http://https// Flood Insurance Program (NFIP); and
www.governor.ny.gov/news/governor-hochul-signs-legislation- • If the structure has experienced any water penetration or
establishing-statewide-pay-transparency-law. damage due to seepage or a natural flood event.
The legislation can be found here The property disclosure statement will now also note that a
https://tinyurl.com/transparency-legislation FEMA Elevation Certificate is a form, completed by a licensed
surveyor or engineer, providing critical information about the
New Flood Insurance Legislation Signed Into Law flood risk of the property.

Governor Kathy Hochul signed legislation to protect New The law also repeals the existing $500 buyer credit where a seller
Yorkers from flooding as storms become increasingly frequent fails to deliver a disclosure statement prior to the signing of a
and extreme. Legislation (A.1967/S.5400) requires sellers to contract of sale, thereby requiring sellers to provide a disclosure
inform home buyers as to whether a property is located in a flood statement or risk being held liable.
risk area or has previously flooded. This legislation underscores This law becomes effective in March 2024. While surveyors
Governor Hochul’s commitment to climate resiliency and the should be aware of this legislation because the profession is
safety of New Yorkers.
specifically mentioned in the note about the FEMA Elevation
Flood Insurance on Property Disclosure Statement – Chapter Certificate, the law does not have any implications on the
484 of the Laws of 2023 practice of the profession.
Pursuant to existing law, sellers in residential property transactions For more information, view the press release from the Governor’s
are required to provide buyers with a property condition disclosure office here (https://tinyurl.com/NYS-FIPD).
statement prior to the execution of the contract of sale. Included
in the property disclosure statement is a disclosure about whether New Davis-Bacon Act Rules Go Into Effect Oct. 23
a property is located in a “designated floodplain” and whether NSPS News and Views 10/5/23
there has been flooding, drainage or grading problems resulting Members are reminded that new rules implementing the Davis-
in standing water on the property in question.
Bacon Act, the federal government’s prevailing wage law for
This new law amends the Real Property Law to amend and add laborers and mechanics working on federally funded construction
questions to the property disclosure statement so that it will projects, take effect on Oct. 23. The new rules, published Aug.
now include: 23, 2023, closely follow policies implemented by the Obama
• Whether the property is located in a Federal Emergency Administration in AAM 212 in 2013, but rescinded by the
Management Agency (FEMA) designated floodplain; Trump Administration in AAM 235, in 2020, expand the act’s
application to certain activities of members of survey crews.
• Whether the property is located in whole or in part in the
Special Flood Hazard Area (SFHA or 100-Year Floodplain) To view the new rules and background material on the issue, visit
according to FEMA’s current flood insurance rate maps for a special report page on the NSPS website:
the area; https://www.nsps.us.com/page/DavisBacon

• Whether the property is located in whole or in part in a
moderate risk flood hazard area (500-year Floodplain);
• If the property is subject to any require-
ment under federal law to obtain and maintain flood
insurance on the property;

EMPIRE STATE SURVEYOR / VOL. 59 • NO 6 2023 • NOVEMBER/DECEMBER 15