Housing

in committee · New York · Senate Jun 9, 2025

S 8177: Relates to the powers of the New York state housing finance agency

This bill extends the New York State Housing Finance Agency's existing authority to issue bonds and finance housing programs until July 23, 2027. It specifically maintains current limits on bond issuance (including $7.92 billion for general housing finance and $2.4 billion for mortgage programs) and preserves the agency's ability to fund multi-family housing and neighborhood revitalization initiatives. The extension applies to provisions governing bond limits, mortgage program income eligibility rules, and infrastructure trust fund operations. This directly affects the agency's ability to continue current housing finance activities without new legislative action. The bill does not create new programs but preserves existing funding mechanisms through 2027.

Topics ✓ HousingSupports HousingExtends bond authority for housing finance programs including $7.92B general housing and $2.4B mortgage funding, maintaining current support for affordable housing initiatives.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Housing

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passed · New York · Senate Jun 9, 2025

S 6166: Relates to delinquent tax interest rates

This bill sets a maximum 16% annual interest rate and a minimum 2% annual interest rate on late payments for residential property taxes, replacing higher local rates. It applies to residential properties including condos and co-ops, but excludes vacant and abandoned properties listed on a statewide registry. The interest rate will be tied to the prime rate (as defined by the commissioner), with the initial rate based on 2026 data and updated every five years. This limits how much interest homeowners can be charged on overdue residential tax bills, ensuring rates stay within the 2%-16% range.

Topics ✓ Budget & TaxesSupports Budget & TaxesCaps delinquent tax interest rates for residential properties, limiting penalties and providing relief to homeowners.95% confidence ✓ HousingSupports HousingCapping delinquent tax interest rates protects homeowners from excessive financial burden, supporting housing stability and property rights as part of affordable housing policy.85% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Housing

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passed · New York · Senate Jun 6, 2025

S 1399: Establishes the vacant rental improvement program

This bill creates the Vacant Rental Improvement Program, providing grants of up to $75,000 per unit to owners of small rental buildings (five or fewer units) located outside New York City. It requires renovated units to be leased at affordable rates - defined as 80% of area median income - for a 10-year period, with new owners inheriting the affordability requirement. The program prioritizes vacant units or those with code violations and establishes a dedicated "rental improvement fund" for financing. Owners who violate the lease terms risk full repayment of grants.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates state funds via dedicated rental improvement fund to provide grants for affordable housing renovations, advancing public service funding within budget priorities.90% confidence ✓ HousingSupports HousingBill creates grants for renovating vacant units to be leased at 80% AMI for 10 years, directly increasing affordable housing stock and enforcing long-term affordability requirements.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Housing

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passed · New York · Senate Jun 5, 2025

S 1398: Establishes the block by block homeownership program

Establishes the block by block homeownership program to provide capital subsidies for the purpose of constructing, preserving, and rehabilitating one- to two- family dwellings throughout the state, outside of NYC.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates state capital subsidies for housing construction/preservation, directly funding a public service program through budget appropriations.90% confidence ✓ HousingSupports HousingProvides capital subsidies for constructing, preserving, and rehabilitating one- to two-family dwellings, directly funding housing development and affordability outside NYC.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Housing

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passed · New York · Senate May 12, 2025

S 6739: Relates to obtaining jurisdiction over certain defendants in matters relating to a tenancy or lease

Standardizes the language across the relevant court acts to allow tenants statewide to sue in the county where the real property at issue is located in matters relating to a tenancy or lease; requires the Office of Court Administration to develop necessary forms, procedures and deliver a report.

Topics ✓ HousingSupports HousingBill standardizes court procedures to allow tenants to sue in property county, strengthening tenant protections by reducing legal barriers for lease disputes.90% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Housing

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signed · New York · Senate Feb 14, 2025

S 803: Authorizes a town with a population between 69,000 and 69,500 to enact a homestead exemption

This bill allows any town in New York with a 2020 census population between 69,000 and 69,500 to create a homestead exemption for real property taxes. It enables qualifying towns to offer an exemption similar to the existing STAR school tax relief program, capping the exemption at $50,000 in property value. Property owners must apply annually using a standard form, and the exemption applies only to eligible homes meeting the same criteria as STAR. This directly affects homeowners in qualifying towns by potentially reducing their local property tax burden.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnables homestead tax exemption capping at $50k, providing property tax relief for homeowners similar to STAR program, directly advancing tax relief for residents.95% confidence ✓ EducationSupports EducationBill authorizes homestead exemption modeled after STAR school tax relief program, directly reducing school tax burdens on homeowners to support local school funding systems.95% confidence ✓ HousingSupports HousingProvides property tax relief for homeowners, reducing housing costs and supporting affordability through a homestead exemption similar to STAR program.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Housing

in committee · New York · Senate Jan 14, 2025

S 735: Increases the New York state housing finance agency bonding authority

This bill raises the New York State Housing Finance Agency's (HFA) borrowing limit for bonds from $31 billion to $36.28 billion. It directly affects the HFA by allowing it to issue more bonds for housing programs, including affordable housing, health facilities, and senior services projects. The increase applies to bonds issued for these purposes, excluding those used to refinance existing debt. This change enables the agency to expand housing financing without requiring new legislative approval for each project.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases HFA bonding authority to fund affordable housing and public services, expanding budget capacity for essential programs without new legislative approval.95% confidence ✓ HousingSupports HousingIncreases HFA bonding authority to expand affordable housing financing, directly enabling more housing programs without new legislative approval.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Housing

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