Bill S 7964 aims to encourage the cleanup and redevelopment of certain contaminated "Brownfield" sites by offering enhanced tax credits. It increases the maximum tangible property tax credit for projects on these sites, especially for a new category called "qualified project sites." To qualify for these higher incentives, a project must meet several criteria, including being in a city with a population under 100,000, located near public transportation, and incorporating a minimum percentage of affordable housing units. Additionally, these "qualified project sites" must have a total value exceeding $250 million, and remediation construction work on them will be subject to prevailing wage requirements, with an allowance for project labor agreements.
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.
This bill requires a 75% transfer fee on the first sale or dissolution of Mitchell-Lama rental projects or mutual companies, paid by sellers after 20 years of occupancy. The fee applies to owners selling or dissolving these housing developments and funds a dedicated New York City/State housing fund. Proceeds must subsidize existing Mitchell-Lama projects, convert properties to limited-profit mutual companies with 99-year leases, fund zero-interest repair loans, and support other affordable housing developments. It directly affects owners of older Mitchell-Lama housing seeking to sell or dissolve their properties.
Creates an affordable housing insurance relief fund program to provide grants to eligible projects for reasonable and necessary commercial insurance expenses.
Establishes the affordable housing broadband assistance grant program within the division of broadband access to support no-cost and/or discounted subscriptions for households receiving federal, state, or local housing assistance or residing in housing units designated for low-income and/or vulnerable populations.
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.
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.
This bill requires a 75% transfer fee on the market value when rental housing projects or mutual companies (after 20 years of occupancy) are sold or dissolved. It directly affects owners of these properties by mandating this fee payment upon sale or dissolution. The collected fees fund a dedicated housing program to subsidize existing affordable housing developments, provide zero-interest repair loans, convert projects to tenant-owned models, and support new affordable housing initiatives. The funds are managed by New York City and State housing agencies to maintain affordability and support tenant ownership.
This bill proposes a constitutional amendment to guarantee six specific economic rights for all New York citizens, regardless of income. It would add a new section to the state constitution stating every citizen is entitled to: a living-wage job, quality healthcare, complete education, affordable housing, a clean environment, and a secure retirement. If passed, these rights would be enshrined in the state constitution, requiring future governments to prioritize them in policy decisions. The amendment is currently under review by the Judiciary Committee and awaiting further legislative action.
This bill requires New York City's Planning Commission to review and approve all new locations, expansions, or service changes for specific social services facilities operated by city agencies. It directly affects agencies managing shelters, housing programs, youth services, and supportive housing (like ACS placement facilities, homeless shelters, and affordable housing with support services). The key provision mandates the Commission to consider neighborhood character, property values, and existing facility locations before approving such changes. The law does not change service eligibility but adds a new approval step for facility operations.
