Establishes the vacant rental improvement program

This bill establishes a state program providing grants of up to $75,000 per unit to owners of small rental buildings (five or fewer units) located outside New York City. The program targets vacant units or those with code violations, requiring owners to renovate and lease units at affordable rates - defined as 80% of area median income - for a minimum of ten years. Owners who violate the affordability agreement must repay all grants received. The program aims to address upstate New York's shortage of safe, affordable housing by incentivizing property improvements while ensuring long-term tenant affordability.