Housing (Homeownership)

in committee · New York · Senate Jan 7, 2026

S 850: Establishes the first-time homebuyer tax credit act

Establishes the "first-time homebuyer tax credit act"; provides that a qualified taxpayer shall be allowed a credit against the taxes imposed by this article for taxes levied on the taxpayer's primary residence by or on behalf of any county, city, town, village, or school district in which such property is located.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing local property tax burden for first-time homebuyers, aligning with tax relief for middle-income residents.95% confidence ✓ HousingSupports HousingProvides tax credit reducing local taxes for first-time homebuyers on primary residences, directly increasing housing affordability for a key demographic.95% confidence

Sub-Topics Tax Credits Affordable Housing Homeownership Property Taxes

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failed · New York · Assembly Jan 7, 2026

A 7525: Establishes the first-time homebuyer tax credit act

Establishes the "first-time homebuyer tax credit act"; provides that a qualified taxpayer shall be allowed a credit against the taxes imposed by this article for taxes levied on the taxpayer's primary residence by or on behalf of any county, city, town, village, or school district in which such property is located.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for primary residence taxes, offering relief to first-time homebuyers, aligning with tax relief indicators.95% confidence ✓ HousingSupports HousingProvides tax credit for first-time homebuyers, reducing costs and increasing affordability of primary residences.90% confidence

Sub-Topics Tax Credits Homeownership Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 5790: Establishes the New York student loan assistance and home purchase act

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.

Topics ✓ HousingSupports HousingBill enables home purchase for student debt holders by consolidating debt into mortgages, directly addressing a key barrier to affordable housing access and promoting homeownership.90% confidence

Sub-Topics Homeownership Mortgages

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in committee · New York · Senate Jan 7, 2026

S 4024: Creates the New York state home ownership savings plan and creating a property tax exemption related thereto

Creates the New York state home ownership savings plan; creates a property tax exemption related thereto; creates exemptions for properties purchased in target areas with a New York state home ownership savings plan.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates property tax exemption for home ownership savings plan, providing targeted tax relief for homeowners in target areas.90% confidence ✓ HousingSupports HousingCreates home ownership savings plan with property tax exemptions for target areas, reducing costs for buyers and supporting affordable housing access.85% confidence

Sub-Topics Property Tax Tax Incentives Homeownership Property Taxes

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in committee · New York · Assembly Jan 7, 2026

A 5350: Exempts first-time homebuyers from the mortgage recording tax

This bill exempts first-time homebuyers from the mortgage recording tax when purchasing a primary residence. It defines "first-time homebuyer" as an individual who has never owned a primary home, isn't married to someone who owned one in the past three years, and doesn't own vacation or investment properties. The exemption applies to mortgages executed on or after the law's effective date (January 1st following enactment). This directly affects qualifying first-time homebuyers by reducing their closing costs for purchasing a primary residence.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts first-time homebuyers from mortgage recording tax, providing tax relief for lower-income buyers as defined in the bill.95% confidence ✓ HousingSupports HousingExempts first-time homebuyers from mortgage recording tax, reducing purchase costs and increasing affordability for primary residence buyers.95% confidence

Sub-Topics Procurement Homeownership Mortgages Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 4340: Establishes the new American homebuyer assistance program within the state of New York mortgage agency

Establishes the New American homebuyer assistance program within the state of New York mortgage agency to assist first time homebuyers by imposing flexible documentation guidelines that take into account foreign documentation of income and assets.

Topics ✓ HousingSupports HousingEstablishes new state program funding first-time homebuyer assistance with flexible documentation for foreign income/assets, directly advancing affordable housing access.92% confidence ✓ ImmigrationSupports ImmigrationBill enables immigrant homebuyers by accepting foreign income/assets documentation, directly supporting immigrant integration through housing access.85% confidence

Sub-Topics Homeownership Mortgages

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in committee · New York · Senate Jan 7, 2026

S 4488: Exempts first-time homebuyers from the mortgage recording tax

This bill exempts first-time homebuyers from the mortgage recording tax on qualifying home purchases. It defines a "first-time homebuyer" as someone who hasn’t owned a primary residence in the past three years (and isn’t married to someone who has), and doesn’t own vacation or investment properties. The exemption applies only to mortgages for primary residences, removing a tax burden for eligible buyers. The law takes effect January 1 following its enactment, applying to mortgages signed on or after that date.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts first-time homebuyers from mortgage tax, providing tax relief for lower-income buyers per support indicators on tax relief.95% confidence ✓ HousingSupports HousingExempts first-time homebuyers from mortgage tax, reducing purchase costs for primary residences and increasing housing affordability.95% confidence

Sub-Topics Homeownership Mortgages Property Taxes

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in committee · New York · Assembly Dec 8, 2025

A 4954: 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 via condo conversions with preservation commitments, advancing affordable housing access.95% confidence

Sub-Topics Affordable Housing Historic Preservation Homeownership

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passed both · New York · Senate Jun 3, 2026

S 2627: Establishes the homeownership protection program

Establishes the homeowner protection program; provides that the department of law shall establish the homeowner protection program to ensure the availability of free housing counseling and legal services to homeowners for the purposes of mitigating threats to homeownership; provides that the department of law shall provide grants to eligible not-for-profit housing counseling organizations and legal services organizations to provide services under the program.

Topics ✓ HousingSupports HousingEstablishes program funding free housing counseling/legal services to protect homeownership, directly advancing homeowner protection through grants to nonprofits.95% confidence

Sub-Topics Homeownership Tenant Rights

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in committee · New York · Senate Mar 24, 2026

S 1572: Enacts the "End Hedge Fund Control of New York Homes Act"

Imposes an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences; establishes the housing down payment trust fund to provide funds to state housing finance agencies to establish new or supplement existing programs that provide down payment assistance to families purchasing homes within the state.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes excise tax on hedge funds to fund housing down payment assistance, directly allocating tax revenue to public housing programs.95% confidence ✓ HousingSupports HousingBill establishes down payment trust fund for homebuyers and taxes hedge funds holding homes, directly funding affordable housing programs.95% confidence

Sub-Topics Procurement Sales Tax Homeownership Housing Finance

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