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 other applicants, including non-qualifying residents. 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 measure aims to enhance accessibility for senior citizens and disabled residents, ensuring they have better opportunities to secure suitable living arrangements within their buildings. The bill is set to take effect immediately upon passage.