S5321 was recently passed in the New York State Senate and has moved to the Assembly.

Two articles discuss the opposing perspectives being debated.

Link to full article: Addabbo Touts Bill to Tackle Vacant Dwellings
“Vacant properties are not only an eyesore in neighborhoods, but they can also become the site of undesirable mischief or criminal behavior,” Addabbo said. “Homeowners who take pride in their residence should not be forced to live amongst dilapidated, unkept structures that are known to lower property values of homes within a ⅛ mile radius, through no fault of their own. These increased fines will prove costly to institutions if they continue to disregard the law.”

Link to full article: Borrello: Senate Zombie Property Bill Won’t Do Much
“Now I understand that zombie properties are really a plague, especially in parts of rural Western New York where I’m from,” Borrello said. “But if we really want to do something about that we should come up with effective ways to allow these banks to resolve those properties as soon as possible. But we’ve done the exact opposite here. We’ve made it more and more difficult for banks to resolve those foreclosures. And now we say we’re going to make it almost impossible for you to foreclose in a reasonable amount of time, and we’re going to make you pay for the maintenance of that property.”