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S 4416 New York Senate · 2025 Regular Session

Specifies that low-income housing tax credits may be issued both for projects creating new housing and projects renovating and preserving existing housing

Summary
Specifies that low-income housing tax credits may be issued both for projects creating new housing and projects renovating and preserving existing housing, nullifying a DHCR determination that projects for the renovation and preservation of existing housing do not qualify.
Issues: ✓ Budget & TaxesSupports Budget & TaxesExpands tax credit eligibility for low-income housing renovations, increasing tax incentives to fund affordable housing preservation through fiscal policy.95% confidence ✓ HousingSupports HousingBill expands low-income housing tax credits to include renovation/preservation of existing housing, directly advancing affordable housing funding by nullifying prior restrictions on qualifying projects.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 4, 2025 Last action Jan 7, 2026
Floor votes

How they voted

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
upper
Feb 4, 2025
Committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Rachel May
Rachel May
DDemocratic/Working Families
NY
48