BILL NUMBER: S8830
SPONSOR: CLEARE
 
TITLE OF BILL:
An act to amend the general business law, in relation to actions involv-
ing coerced debts; and to amend a chapter of the laws of 2025 amending
the general business law relating to establishing a right of action for
claims arising out of coerced debts, as proposed in legislative bills
numbers S. 1353-B and A. 3038-B, in relation to the effectiveness there-
of
 
PURPOSE:
This is a chapter amendment to L.2025, c.710 , to amend the definition
of coerced debt and to make structural amendments to the applicability.
 
SUMMARY OF PROVISIONS:
This legislation amends the underlying chapter amendment by amending the
definition of coerced debt to be more precise, allowing the disclosure
of debtor information when reasonably necessary for a creditor to bring
action, and allowing a cure period and safe harbor for good faith
efforts by creditors.
 
EXISTING LAW:
None.
 
JUSTIFICATION:
This legislation is a negotiated change to the underlying chapter.
 
LEGISLATIVE HISTORY:
Chapter amendment to Chapter 655 of the Laws of 2025. S.1353-B and
A.3038-B, both passed the Senate and Assembly, respectfully, in June
2025.
 
FISCAL IMPLICATIONS:
None
 
EFFECTIVE DATE:
This act shall take effect on the same date and in the same manner as a
chapter of the laws of 2025 amending the general business law, in
relation to establishing a right of action for claims arising out of
coerced debt, as proposed in legislative bills numbers S.1353-B and
A.3038-B, takes effect.