Housing (Affordable Housing)

in committee · New York · Assembly Sep 8, 2025

A 4241: Establishes the USDA construction tax credit

Establishes the USDA construction tax credit for a percentage of the profit on any newly constructed home that is sold to someone qualifying with a USDA mortgage.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credit for USDA mortgage home buyers, providing tax relief to lower-income households, aligning with support indicators for tax relief.95% confidence ✓ HousingSupports HousingTax credit incentivizes construction of USDA mortgage-eligible homes, increasing affordable housing supply for low-income buyers.90% confidence

Sub-Topics Tax Credits Affordable Housing Mortgages

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died · New York · Senate Mar 18, 2026

S 8170: Authorizes a tax abatement for alterations and improvements to multiple dwellings for purposes of preserving habitability in affordable housing

This bill extends deadlines for tax abatements on eligible renovations to multiple dwelling buildings. It changes the deadline for completing eligible construction from June 30, 2025, to June 30, 2026, and extends the period cities can grant tax abatements until June 30, 2026. The bill directly affects building owners making eligible improvements and local governments administering these tax breaks under the multiple dwelling law. It does not create new programs but provides additional time for compliance with existing tax abatement rules. The key change is the one-year extension to both construction completion dates and local government authorization periods.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends tax abatement deadlines for property owners, providing continued tax relief under existing program without altering tax rates or funding.90% confidence ✓ HousingSupports HousingExtends tax abatement deadlines for renovations to multiple dwellings, encouraging building improvements that support housing development and maintenance without restricting affordability.85% confidence

Sub-Topics Tax Incentives Affordable Housing Property Taxes Tenant Rights

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in committee · New York · Assembly Jan 7, 2026

A 3812: Relates to the taxation of property owned by a cooperative corporation

This bill modifies property tax rules for cooperative corporations and condominiums. It allows eligible properties (owned by cooperatives or on a condo basis in a municipality) to avoid certain tax provisions if the owner adopts a local law or resolution before the tax assessment date. However, this exemption does not apply to properties already taxed under those rules before January 1, 2027, or those in affordable housing programs with federal/state/local housing agreements. The changes apply to tax assessments starting January 1, 2027.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption for cooperative/condo properties, reducing tax burden (tax relief) for eligible owners, aligning with support indicators.90% confidence ✓ HousingSupports HousingExcludes affordable housing programs from tax changes, protecting existing affordable units from potential tax increases under the bill's provisions.90% confidence

Sub-Topics Property Tax Affordable Housing Property Taxes

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signed · New York · Assembly Oct 16, 2025

A 8589: Increases the amount of funds that may be used per dwelling unit to modernize certain authorities used by the housing trust fund corporation

This bill increases the maximum funding per dwelling unit for low-income housing projects from $125,000 to $250,000 under New York's Housing Trust Fund Corporation. It directly affects developers and housing organizations seeking to rehabilitate or construct affordable housing for low-income residents. Key provisions maintain restrictions on fund use - capping acquisition costs at 50% of total funding, limiting community facility spending to 10%, and prohibiting administrative costs or non-residential projects. The change allows greater flexibility for developers to modernize housing while preserving existing affordability safeguards. The bill was signed into law on October 16, 2025 (Chapter 462).

Topics ✓ HousingSupports HousingIncreases funding per dwelling unit for low-income housing from $125k to $250k, directly advancing affordable housing development under Housing Trust Fund Corporation.95% confidence

Sub-Topics Affordable Housing Housing Finance

in committee · New York · Assembly Jan 7, 2026

A 2711: Establishes the historic preservation tax credit transfer program

Establishes the historic preservation tax credit transfer program to provide flexibility and incentives for businesses which rehabilitate historic properties to further promote the development of affordable housing.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes tax credit program providing tax relief to businesses for historic preservation, aligning with fiscal incentives for development.95% confidence ✓ HousingSupports HousingBill establishes tax credit incentives for rehabilitating historic properties to promote affordable housing development, directly advancing housing goals through funding and development incentives.95% confidence

Sub-Topics Tax Credits Affordable Housing Historic Preservation Property Development

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in committee · New York · Senate Jan 7, 2026

S 1354: Provides for the conversion of condominium ownership for the preservation of expiring affordable housing in the city of New York

Relates to the conversion to condominium ownership for the preservation of expiring affordable housing in the city of New York; provides expanded homeownership opportunities from the conversion of certain residential rental buildings to condominium status by property owners that commit to preserve the inventory of expiring affordable housing in the city of New York.

Topics ✓ HousingSupports HousingPreserves expiring affordable housing by requiring condo conversions to maintain affordable units, directly advancing affordable housing preservation.95% confidence

Sub-Topics Affordable Housing Homeownership

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in committee · New York · Senate Jan 7, 2026

S 5264: Requires insurance companies to provide detailed rationale for rate changes of certain state or municipal backed buildings

This bill requires insurance companies to provide written notice with detailed explanations for rate increases on policies covering state or municipal backed buildings (such as state-owned properties, subsidized housing, or developments managed by housing authorities). Insurers must send this notice 60-120 days before the rate change takes effect, including the specific rationale and calculation method used. The law applies to all policies for these properties issued, renewed, or modified on or after the effective date. It directly affects insurance companies and the state/municipal entities or building owners that rely on these policies.

Topics ✓ HousingSupports HousingRequires insurance transparency for subsidized housing, preventing arbitrary rate hikes that could threaten affordability and stability of state/municipal housing developments.85% confidence

Sub-Topics Affordable Housing

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in committee · New York · Assembly May 7, 2026

A 5959: Provides for direct-pay tax abatement credits for solar electric generating systems and electric energy storage systems in connection with eligible buildings

Provides for direct-pay tax abatement credits for solar electric generating systems and electric energy storage systems in connection with eligible buildings; provides such eligible properties shall include: 501(c)(3) corporations, associations, organizations or trusts and income-restricted affordable housing properties.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax abatement credits for solar systems in affordable housing and nonprofits, offering tax relief for lower-income housing and green energy initiatives.95% confidence ✓ EnergySupports EnergyProvides tax credits for solar and storage systems, directly promoting renewable energy adoption and clean energy infrastructure investment.95% confidence ✓ EnvironmentSupports EnvironmentProvides tax credits for solar/energy storage systems, directly promoting clean energy adoption and reducing carbon emissions per bill's focus on renewable infrastructure.95% confidence ✓ HousingSupports HousingBill explicitly includes income-restricted affordable housing properties as eligible for tax abatement credits, directly funding affordable housing development.95% confidence

Sub-Topics Tax Incentives Energy Storage Solar Affordable Housing Property Taxes

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in committee · New York · Assembly Jan 7, 2026

A 6708: Relates to prevailing wage requirements applicable to construction projects performed under private contract; repealer

This bill updates rules for when construction projects must pay local prevailing wages. It applies to projects using at least 20% public funds (or $3 million/$5 million in public funds) for construction costs. Exemptions include single-family homes, small nonprofits, and certain affordable housing developments meeting specific affordability requirements. This affects contractors and developers working on qualifying projects funded in part by public money.

Topics ✓ HousingSupports HousingExempts qualifying affordable housing developments from prevailing wage requirements, reducing construction costs and advancing affordable housing development.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill requires prevailing wages on public-funded construction projects, protecting workers' pay by ensuring fair compensation for labor on qualifying projects. Exemptions are limited and do not undermine core wage protections.90% confidence

Sub-Topics Affordable Housing

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in committee · New York · Assembly Jan 7, 2026

A 1877: Grants real property tax abatement to rent-controlled or rent regulated properties when the maximum authorized rent exceeds 1/2 of the tenants' household income

Authorizes application of the property tax abatement for rent-controlled or rent regulated properties occupied by senior citizens or disabled persons, to those units occupied by tenants paying the maximum allowable rent when such rent exceeds 1/2 of the household income; provides for state payments to cities affected thereby equal to 10% of lost real property tax revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax abatement for low-income tenants (rent >50% income) with state compensation for cities' lost revenue, aligning with tax relief for lower-income households.95% confidence ✓ HousingSupports HousingProvides tax abatement for rent-controlled units where rent exceeds 50% of tenant income, protecting low-income seniors/disabled tenants from unaffordable rents while compensating cities for lost revenue.95% confidence

Sub-Topics Property Tax Revenue Tax Incentives Affordable Housing Property Taxes Tenant Rights

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