A 2707 New York Assembly · 2025 Regular Session

Enacts the housing development fund company fairness, preservation, and affordability act

Summary

Enacts the housing development fund company fairness, preservation, and affordability act to clarify certain provisions relating to the dissolution and reincorporation of housing development fund companies; provides for tax exemptions and abatements for housing development fund companies.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 22, 2025 Last action Jan 28, 2026

Maddy AI version diff · 2 comparisons

What changed between versions

A2707A → A2707B · 4 edits

MODERATE

The bill was amended to add new sponsors and update the short title from 'self-determination' to 'fairness'. A key substantive change reworded a legislative finding to emphasize promoting 'continuing affordability' alongside autonomy, while removing a specific reference to 'self-governance' in that context. The amendment also added a new paragraph detailing how the city applied its regulatory authority to HDFCs through incorporation documents and deeds.

Scope change

The bill's scope remains focused on Housing Development Fund Companies (HDFCs) in New York City, but the legislative intent regarding their future status was slightly reframed to prioritize affordability.

ELIGIBILITY

Added five new sponsors (Reyes, Alvarez, De Los Santos) to the list of bill authors.

DEFINITION

Changed the short title of the act from 'housing development fund company self-determination, preservation and affordability act' to 'housing development fund company fairness, preservation, and affordability act'.

REQUIREMENT

Revised a legislative finding to state that the law clarifies legal status to 'promote their continuing affordability while protecting their autonomy and self-governance,' removing the word 'self-determination' from this specific clause.

Added a new paragraph explaining that the city incorporated regulatory terms directly into HDFC incorporation documents and deeds, not just through separate agreements.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Jan 28, 2026

Lower · Passed

PRINT NUMBER 2707B

lower

Jan 28, 2026

Lower · Passed

AMEND (T) AND RECOMMIT TO HOUSING

lower

Jan 7, 2026

Committee

REFERRED TO HOUSING

lower

Mar 27, 2025

Lower · Passed

PRINT NUMBER 2707A

lower

Mar 27, 2025

Lower · Passed

AMEND AND RECOMMIT TO HOUSING

lower

Jan 22, 2025

Committee

REFERRED TO HOUSING

lower

1 primary · 8 co-sponsors