Housing (Homeownership)

in committee · New York · Senate Jan 7, 2026

S 1354: Provides for the conversion of condominium ownership for the preservation of expiring affordable housing in the city of New York

Relates to the conversion to condominium ownership for the preservation of expiring affordable housing in the city of New York; provides expanded homeownership opportunities from the conversion of certain residential rental buildings to condominium status by property owners that commit to preserve the inventory of expiring affordable housing in the city of New York.

Topics ✓ HousingSupports HousingPreserves expiring affordable housing by requiring condo conversions to maintain affordable units, directly advancing affordable housing preservation.95% confidence

Sub-Topics Affordable Housing Homeownership

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in committee · New York · Senate Jan 7, 2026

S 5620: Exempts from the mortgage recording tax mortgages executed by a veteran first time homebuyer

This bill exempts veteran first-time homebuyers in New York from paying the mortgage recording tax on new home purchases. It adds a new provision to tax law stating that mortgages executed by veterans (as defined in the Veterans' Services Law) who are first-time homebuyers are not subject to the mortgage recording tax. The exemption applies directly to qualifying veterans purchasing their first home, removing a financial cost associated with closing the mortgage. This is a concrete tax policy change affecting eligible veteran homebuyers, not a broader housing or veteran benefit program.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts veteran first-time homebuyers from mortgage recording tax, providing direct tax relief for a specific group as a tax policy change.95% confidence ✓ HousingSupports HousingExempts veteran first-time homebuyers from mortgage recording tax, reducing financial barriers to homeownership and advancing affordable housing access.92% confidence ✓ VeteransSupports VeteransExempts veteran first-time homebuyers from mortgage recording tax, reducing financial barriers to homeownership - a direct benefit expansion under veterans' services.95% confidence

Sub-Topics Procurement Homeownership Mortgages Veteran Benefits Veteran Housing

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in committee · New York · Assembly Jan 7, 2026

A 6290: Establishes the block by block homeownership program

Establishes the block by block homeownership program to provide capital subsidies for the purpose of constructing, preserving, and rehabilitating one- to two- family dwellings throughout the state, outside of NYC.

Topics ✓ HousingSupports HousingBill establishes capital subsidies for constructing, preserving, and rehabilitating one- to two-family dwellings, directly funding housing development and affordability outside NYC.95% confidence

Sub-Topics Homeownership

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in committee · New York · Assembly Jan 7, 2026

A 5453: Extends historic homeownership rehabilitation tax credit and requires additional reporting

This bill extends New York's historic homeownership rehabilitation tax credit window through 2025, allowing homeowners to claim up to $50,000 in credits for rehabbing qualified historic homes during tax years before 2025, and $25,000 for years starting in 2025. It directly affects homeowners who rehabilitate historic properties, requiring them to meet specific criteria like exterior rehabilitation costs and excluding pre-2007 work. The bill adds mandatory annual reporting requirements, mandating the state commissioner to publicly share detailed data on credit usage - including project locations, housing units before/after rehab, and credit values - by November 1 each year. These reports must be submitted to state leadership and made available online. The changes take effect for tax years beginning January 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends tax credit for historic home rehabilitation, providing tax relief to homeowners through increased credit limits ($50k/$25k) and maintaining fiscal incentives.95% confidence ✓ HousingSupports HousingExtends tax credits for historic home rehabilitation, encouraging preservation and development of existing housing stock, directly supporting housing development.95% confidence

Sub-Topics Tax Credits Historic Preservation Homeownership

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in committee · New York · Assembly Jan 7, 2026

A 7526: Alters the definition of a qualified historic home for the purposes of the historic homeownership rehabilitation credit

This bill changes the definition of a "qualified historic home" to qualify for New York's historic homeownership rehabilitation tax credit. It adds three new location requirements: the home must be in a federally designated targeted area, in a census tract with income at or below the state median, or in a city under 1 million population with a poverty rate over 15%. These changes determine who can claim the credit for rehabilitating certified historic properties. The bill directly affects homeowners seeking tax benefits for restoring historic homes in specific geographic areas. The amendment takes effect immediately upon enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill targets tax credit eligibility to lower-income areas (poverty rate >15%, income ≤ median), providing tax relief for historic homeownership in disadvantaged regions.85% confidence ✓ HousingSupports HousingBill targets historic rehabilitation tax credit to low-income areas (census tracts below median income, high-poverty cities), advancing affordable housing access through targeted incentives.90% confidence

Sub-Topics Tax Credits Historic Preservation Homeownership

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in committee · New York · Senate Jan 7, 2026

S 7209: Increases the maximum qualifying income for the senior citizen homeowner's exemption and the disabled homeowner's exemption

Increases the maximum qualifying income for the senior citizen homeowner's exemption and the disabled homeowner's exemption to $70,000 in the city of New York.

Topics ✓ HousingSupports HousingIncreases tax exemption income threshold for seniors/disabled homeowners, reducing property tax burden and supporting housing affordability for vulnerable groups in NYC.90% confidence

Sub-Topics Homeownership Property Taxes

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in committee · New York · Assembly Jun 3, 2026

A 1625: Establishes the homeownership protection program

Establishes the homeowner protection program; provides that the department of law shall establish the homeowner protection program to ensure the availability of free housing counseling and legal services to homeowners for the purposes of mitigating threats to homeownership; provides that the department of law shall provide grants to eligible not-for-profit housing counseling organizations and legal services organizations to provide services under the program.

Topics ✓ HousingSupports HousingBill funds free housing counseling/legal services to protect homeownership, directly supporting property rights and preventing loss of homes through state program grants.95% confidence

Sub-Topics Homeownership

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in committee · New York · Senate Jan 7, 2026

S 850: Establishes the first-time homebuyer tax credit act

Establishes the "first-time homebuyer tax credit act"; provides that a qualified taxpayer shall be allowed a credit against the taxes imposed by this article for taxes levied on the taxpayer's primary residence by or on behalf of any county, city, town, village, or school district in which such property is located.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing local property tax burden for first-time homebuyers, aligning with tax relief for middle-income residents.95% confidence ✓ HousingSupports HousingProvides tax credit reducing local taxes for first-time homebuyers on primary residences, directly increasing housing affordability for a key demographic.95% confidence

Sub-Topics Tax Credits Affordable Housing Homeownership Property Taxes

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failed · New York · Assembly Jan 7, 2026

A 7525: Establishes the first-time homebuyer tax credit act

Establishes the "first-time homebuyer tax credit act"; provides that a qualified taxpayer shall be allowed a credit against the taxes imposed by this article for taxes levied on the taxpayer's primary residence by or on behalf of any county, city, town, village, or school district in which such property is located.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit for primary residence taxes, offering relief to first-time homebuyers, aligning with tax relief indicators.95% confidence ✓ HousingSupports HousingProvides tax credit for first-time homebuyers, reducing costs and increasing affordability of primary residences.90% confidence

Sub-Topics Tax Credits Homeownership Property Taxes

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in committee · New York · Senate Jan 7, 2026

S 5790: Establishes the New York student loan assistance and home purchase act

Establishes the "New York student loan assistance and home purchase act" for the purposes of facilitating the purchase of homes by individuals who are burdened by student debt, by providing financing opportunities for the consolidation of student debt into a mortgage.

Topics ✓ HousingSupports HousingBill enables home purchase for student debt holders by consolidating debt into mortgages, directly addressing a key barrier to affordable housing access and promoting homeownership.90% confidence

Sub-Topics Homeownership Mortgages

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