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S 10500 New York Senate · 2025 Regular Session

Relates to affordable housing in New York city

Summary
Provides that no tax exemption shall be given for any unit that has not agreed in writing to maintain such unit as their primary residence for no less than five years from the acquisition of such unit.
Issues: ✓ Budget & TaxesSupports Budget & TaxesBill restricts tax exemptions to units with primary residence commitments, preventing tax breaks for non-residential use and promoting fiscal responsibility.85% confidence ✗ HousingOpposes HousingBill restricts affordable housing by denying tax exemptions to units not used as primary residences for five years, limiting housing availability.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
May 2026
Committee Review
Floor Vote
Governor
Introduced May 15, 2026 Last action May 15, 2026
Floor votes

How they voted

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Full legislative history

Actions timeline

Total actions
1
Key actions
0
Committee
1
May 15, 2026
Committee
REFERRED TO LOCAL GOVERNMENT
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Andrew Gounardes
Andrew Gounardes
DDemocratic
NY
26