This bill would prevent mortgage lenders from penalizing borrowers who don't set high enough rental rates on properties covered by their mortgages. It voids any mortgage clause requiring minimum rents or punishing low rents, applying to all mortgages regardless of when they were created, renewed, or modified. The law directly affects property owners with mortgages who might face fees or default penalties for not meeting arbitrary rent minimums. This policy change ensures lenders cannot enforce such clauses as against public policy.
Authorizes the town of Chester to establish community preservation funds; establishes a real estate transfer tax with revenues therefrom to be deposited in said community preservation fund.
Prohibits a person or entity from knowingly or with reckless disregard facilitate an agreement between or among two or more residential rental property owners or managers to not compete with respect to residential rental dwelling units, including by operating or licensing a software, data analytics service, or algorithmic device that performs a coordinating function on behalf of or between and among such residential rental property owners or managers.
Prohibits residential landlords from charging tenants a fee for a dishonored rent check in excess of the actual costs or fees incurred by such landlord as a result thereof, provided such dishonored check fee was included in the initial lease.
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 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.
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.
Senate Resolution 1246 requires the Senate to approve a detailed spending plan before allocating $315,000 in state funds for housing initiatives during the 2025-2026 fiscal year. It mandates that the plan - approved by the Senate President and Budget Director - must list specific grantees and exact funding amounts, rather than using a general allocation method. The resolution directly affects 10 housing organizations, including Neighborhood Housing Services of Brooklyn and West Bronx Housing Center, which are each allocated specific sums (e.g., $100,000 for West Bronx Housing Center). This process ensures Senate oversight through a majority vote on a formal resolution before funds are disbursed.
Senate Resolution 1242 amends the plan for New York's Economic Development Assistance Program to add two specific grants: $250,000 to Calvary Housing Development Fund Corporation for senior housing and $100,000 to New York City Department of Education for New York Sun Works, Inc. The resolution updates the schedule of approved grantees, requiring the revised list to be approved by the temporary Senate president, budget director, and a majority vote of the Senate. This change directly affects the two organizations receiving funds and the administrative process for allocating program monies originally appropriated in 2008 and reappropriated in 2025. The bill does not alter the program's overall structure but adjusts its current funding distribution.
Senate Resolution R 1238 amends a prior resolution to establish a required process for allocating $200,000 in state funds for housing initiatives during the 2024-25 fiscal year. It mandates that funds be distributed only after an itemized list of grantees (including specific organizations like Ali Forney Center and Broadway Housing Communities Inc.) and their allocated amounts is approved by the Senate's temporary president, budget director, and a majority vote of all elected senators. This procedural resolution directly affects the listed organizations by confirming their receipt of designated funding amounts, with no new policy changes to housing programs.