This bill increases the maximum funding per dwelling unit for low-income housing projects from $125,000 to $250,000 under New York's Housing Trust Fund Corporation. It directly affects developers and housing organizations seeking to rehabilitate or construct affordable housing for low-income residents. Key provisions maintain restrictions on fund use - capping acquisition costs at 50% of total funding, limiting community facility spending to 10%, and prohibiting administrative costs or non-residential projects. The change allows greater flexibility for developers to modernize housing while preserving existing affordability safeguards. The bill was signed into law on October 16, 2025 (Chapter 462).
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.
Requires that the entire amount of a rental deposit or advance be refundable to the tenant upon the tenant's vacating of the premises except for an amount lawfully retained for non-payment of rent or utilities, damage caused by the tenant, or storage costs; requires landlord to provide an itemized statement of damages and to return the balance of the deposit within 14 days; requires that tenant be given the opportunity to inspect the rental premises prior to signing a lease; allows a grantee or assignee of the leased premises to demand that an escrow account be opened.
This bill (S 8311, now Chapter 438) requires the New York City Housing Authority (NYCHA) to maintain and clearly define policies allowing family members or eligible individuals to take over a public housing lease when the current tenant permanently moves out or dies. Key provisions mandate NYCHA to establish written rules covering eligibility, relocation needs, payment during the transition, and the right to appeal denied succession requests, all while complying with federal, state, and local laws. The law also requires NYCHA to provide 30 days' written notice and accept public comments before changing these policies. This policy change directly affects current NYCHA tenants facing loss of a household member and ensures consistent, transparent succession processes. The bill was signed into law on October 16, 2025.
This bill expands the residential redevelopment inhibited property exemption to all cities, towns, and villages in the state, removing a current restriction that limited it to one specific city. It allows any municipality to adopt local laws designating properties as "redevelopment inhibited" if they are neglected, abandoned, or have conditions (like long vacancy or zoning violations) preventing private redevelopment. Property owners in designated areas can then receive an exemption from taxes on the increased value of their property after redevelopment, provided they own a one- to four-unit residence, maintain owner-occupancy, and file annual residency affidavits. The exemption covers only the incremental tax increase from redevelopment, not the base property value, and requires compliance with building and zoning codes.
This bill increases the required supervised experience period for new real estate brokers from two to five years. It directly affects individuals applying for a real estate broker's license, mandating they have actively worked as a licensed salesperson under a broker for five consecutive years (or equivalent experience). Key provisions include requiring cultural competency training, proof of English language proficiency, knowledge of fair housing laws, and completion of a 152-hour approved course. The bill also specifies that certain course components must be taught in person, not online.
This bill extends the deadline for New York's COVID-19 emergency rental assistance program from September 30, 2024, to September 30, 2025. It directly affects renters experiencing housing instability during the pandemic and local governments administering the program. The key provision amends the existing law to delay the expiration of program funding and operational provisions by one year, ensuring continued access to rental aid.
Requires a petition in a summary proceeding to recover possession of real property in the city of Schenectady to allege proof of compliance with local laws requiring rental residential property registration and licensure.
Establishes the mechanical insulation energy savings program to provide grants for qualified mechanical insulation expenditures to school districts, public hospitals, public housing buildings, and political subdivisions that have completed a qualified audit.
This bill increases the New York City Housing Development Corporation's borrowing limit from $19 billion to $20 billion for issuing bonds. It directly affects the corporation's ability to fund affordable housing projects across New York City by expanding its financial capacity. The key change is a simple $1 billion increase to the bonding authority, with no other substantive policy shifts.
