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.
Requires rent stabilized housing accommodations lost or destroyed due to fire, natural disaster, act of God, act of war or eminent domain, to be replaced in any succeeding construction on the same parcel.
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.
Requires all municipal corporations to adopt senior citizen rent increase exemption programs and disability rent increase exemption programs within one year.
Establishes an affordable independent senior housing assistance program which shall provide grants within amounts appropriated or otherwise available therefor to affordable independent senior housing properties to establish and operate resident assistance programs.
Establishes a co-shelter toolkit of best practices, resources, case studies and other information deemed helpful to inform and encourage the implementation and sustenance of co-shelter models for victims of domestic violence and people experiencing homelessness with companion animals; makes related provisions.
Enacts the "NYCHA - innovating neighborhoods through viable efficient solutions for tenants act" which provides funding to NYCHA to rehabilitate vacant units.
Provides additional documentation a tenant may provide to demonstrate that such tenant or a member of such tenant's household has been a victim of domestic violence for purposes of permitting the termination of residential lease by victims of domestic violence.
This bill limits initial regulated rents for vacant housing units in cities under 1 million population or designated emergency areas. It requires that new initial rents for regulated units cannot exceed the average rent for comparable rent-regulated housing, as determined by the Rent Guidelines Board. Landlords must base initial rents on this average, with adjustments possible via tenant or owner applications. The law applies to units becoming vacant after the effective date and includes provisions for refunding overcharges if rents exceed legal limits.
Provides that, for purposes of veterans seeking to qualify for public housing, "probable aggregate annual income" shall not include disability benefits paid by federal government to veterans for service-connected disabilities; provides that such disability benefits shall not be included in computing any surcharge against such veterans.