This bill mandates that owners of multiple dwellings with three or more floors must prioritize senior citizens and individuals with disabilities that limit mobility when they seek to move to a lower-floor unit with the same number of bedrooms. These qualifying residents will have the right of first refusal over both outside applicants and other non-qualifying residents wishing to relocate to a lower floor. Importantly, the bill stipulates that these new requirements will not interfere with any existing affordability, targeting, or income restrictions already in place for the multiple dwelling.

Additionally, the bill requires owners or their agents to display a sign in a prominent location that informs residents about the priority status granted to qualifying individuals. This initiative aims to enhance accessibility for vulnerable populations within multi-story residential buildings, ensuring they have better opportunities to secure suitable living arrangements. Buildings that are cooperatively owned are exempt from these requirements.