Establishes the "New York student loan assistance and home purchase act" for the purposes of facilitating the purchase of homes by individuals who are burdened by student debt, by providing financing opportunities for the consolidation of student debt into a mortgage.
Establishes a housing project revolving loan program and housing project revolving loan fund to encourage the development of mixed income housing by providing zero-percent interest or low-interest loans.
Bill S 6761 changes how the area median income (AMI) is calculated for new affordable housing programs in New York City. For these programs, the AMI will be determined by using the lower figure between the AMI of the specific zip code where the program is located and the AMI of the broader region. This new calculation method will directly affect how eligibility and rent levels are set for future affordable housing projects within NYC.
Requires, in cities having a population of one million or more, supportive housing be disbursed throughout the boroughs of such city in proportion to the borough population.
This bill (S 6971) sets new documentation requirements for lenders seeking to foreclose on residential mortgages in New York. It requires lenders to prove ownership of the mortgage note, provide a complete payment history from loan origination, and document the physical location and chain of custody of the original note. These rules apply specifically to foreclosures on one- to four-family residential properties. The bill also clarifies that defendants can raise statute of limitations or "lack of standing" defenses at any time during the case, not just in initial pleadings.
This bill increases financial assistance standards for New York residents receiving public assistance. Starting July 1, 2025, the monthly need standard for eligibility and maximum benefit amounts will double (e.g., from $158 to $316 for single-person households), with annual adjustments tied to federal cost-of-living changes. Home energy grants and supplemental home energy grants also double starting July 2025 (e.g., from $14.10 to $28.20 monthly for single-person households). These changes directly affect low-income individuals and families qualifying for state public assistance programs.
Relates to establishing the housing access voucher program; provides that the commissioner of the division of housing and community renewal shall implement a program of rental assistance in the form of housing vouchers for eligible individuals and families who are homeless or who face an imminent loss of housing; provides that the commissioner shall designate housing access voucher local administrators in the state to administer the program.
Codifies the disparate impact standard in the human rights law; provides that in cases of alleged housing discrimination, an unlawful discriminatory practice may be established by a practice's discriminatory effect.
Prohibits the issuance of violations or tickets during certain weekend hours to residential occupants for violations of the sanitation department regulations regarding placing trash or garbage out for collection earlier than allowed under the city routing system designated hours.
Requires the modification of restrictive covenants prior to the sale of real property when covenants, conditions and restrictions exist which discriminate on the basis of race, color, religion, sex, sexual orientation, familial status, marital status, disability, national origin, source of income or ancestry.