---
type: "Bill"
title: "Establishes a residential investment exemption in certain cities"
description: "Establishes a vacant residential investment exemption in cities with a population of not less than seven thousand fifty and not more than seven thousand sixty, determined in accordance with the two thousand twenty census."
jurisdiction: "us/states/ny"
legislature: "New York Legislature"
session: "2023-2024"
identifier: "S 5779"
citation: "New York S 5779 (2023-2024)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Peter Oberacker"]
version_count: 6
action_count: 24
vote_count: 3
first_action: "2023-03-15"
last_action: "2024-12-21"
source: "openstates"
source_identifier: "ocd-bill/a691d30e-1b8a-4e34-aacb-3ed7753b324d"
source_url: "http://www.nysenate.gov/legislation/bills/2023/S5779"
source_hash: "3b87c1cb2d38a5a4db9b2fd81083e15ab1d284bb161f8d50fc1709436cbb9c14"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ny"]
---

# New York S 5779 (2023-2024) — Establishes a residential investment exemption in certain cities

Establishes a vacant residential investment exemption in cities with a population of not less than seven thousand fifty and not more than seven thousand sixty, determined in accordance with the two thousand twenty census.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **S5779** (committee substitute) — [source](http://assembly.state.ny.us/leg/?sh=printbill&bn=S5779&term=2023&Text=Y)
2. **S5779A** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2023/S5779A)
3. **S5779B** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2023/S5779B)
4. **S5779C** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2023/S5779C)
5. **S5779D** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2023/S5779D)
6. **S5779E** (committee substitute) — [source](http://legislation.nysenate.gov/pdf/bills/2023/S5779E)

## Votes

- Floor Vote - Version: E — **60–1** (pass) · upper
- Rules Vote - Version: E — **20–0** (pass) · upper
- Assembly Vote — **147–0** (pass) · lower

## Sponsors

- Peter Oberacker — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-03-15** REFERRED TO LOCAL GOVERNMENT `referral-committee`
- **2023-06-05** AMEND AND RECOMMIT TO LOCAL GOVERNMENT `amendment-passage, referral-committee`
- **2023-06-05** PRINT NUMBER 5779A `amendment-passage`
- **2023-06-06** AMEND AND RECOMMIT TO LOCAL GOVERNMENT `amendment-passage, referral-committee`
- **2023-06-06** PRINT NUMBER 5779B `amendment-passage`
- **2024-01-03** REFERRED TO LOCAL GOVERNMENT `referral-committee`
- **2024-01-16** AMEND AND RECOMMIT TO LOCAL GOVERNMENT `amendment-passage, referral-committee`
- **2024-01-16** PRINT NUMBER 5779C `amendment-passage`
- **2024-05-30** AMEND AND RECOMMIT TO LOCAL GOVERNMENT `amendment-passage, referral-committee`
- **2024-05-30** PRINT NUMBER 5779D `amendment-passage`
- **2024-05-31** AMEND AND RECOMMIT TO LOCAL GOVERNMENT `amendment-passage, referral-committee`
- **2024-05-31** PRINT NUMBER 5779E `amendment-passage`
- **2024-06-03** COMMITTEE DISCHARGED AND COMMITTED TO RULES `referral-committee`
- **2024-06-03** ORDERED TO THIRD READING CAL.1642
- **2024-06-06** PASSED SENATE `passage`
- **2024-06-06** DELIVERED TO ASSEMBLY
- **2024-06-06** REFERRED TO WAYS AND MEANS `referral-committee`
- **2024-06-06** SUBSTITUTED FOR A5898E
- **2024-06-06** ORDERED TO THIRD READING RULES CAL.485
- **2024-06-06** HOME RULE REQUEST
- **2024-06-06** PASSED ASSEMBLY `passage`
- **2024-06-06** RETURNED TO SENATE
- **2024-12-12** DELIVERED TO GOVERNOR `executive-receipt`
- **2024-12-21** SIGNED CHAP.653 `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/a691d30e-1b8a-4e34-aacb-3ed7753b324d`. Confidence: reported (aggregated from official New York legislature records).