Requires the division of housing and community renewal, in collaboration with the New York state office for the aging, to establish a publicly accessible online database of available senior housing units; requires the New York state office for the aging to maintain the senior housing unit database.
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Seniors
This bill increases the New York State Housing Finance Agency's borrowing limit to $36.28 billion for housing-related bonds. It directly affects the agency and future housing finance programs, allowing it to issue more bonds to fund affordable housing developments, renovations, and related projects. The key provision raises the existing cap from $31 billion to $36.28 billion, expanding the agency's capacity to finance housing without changing the types of projects it supports. This is a straightforward funding authorization, not a new program or policy change.
Provides that any tenant who is evicted or otherwise removed from a dwelling unit as a result of a vacate order issued by any governmental agency or department due to fire shall be entitled to a suitable accommodation; defines suitable accommodation; makes related provisions.
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.
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.
This bill expands rent increase exemptions in New York City for residents with disabilities. It amends the definition of "eligible head of the household" to include people with disabilities (and their spouses or children) who qualify under city law, not just seniors aged 62+. Eligibility requires household income under annual limits tied to federal SSI benefits ($25,000 in 2025, increasing to $29,000 by 2029). The change specifically applies to properties with federally insured mortgages, directly affecting disabled residents in these housing units who meet income criteria.
Requires rent reduction in cases of submetered utility service; directs the division of housing and community renewal to develop a standard reduction and an appeals process.
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.
Requires, in cities having a population of one million or more, supportive housing be disbursed throughout the boroughs of such city in proportion to the borough population.
Provides for a partial exemption from taxation of certain residential real property transferred by a governmental entity, nonprofit housing organization, land bank or community land trust to low-income households; sets forth conditions for the discontinuance of such exemption.