New York S 8267: Doubles the STAR property tax deduction and provides a $1,000 refundable state income tax credit for qualified medical providers or first responders charged with caring for COVID-19 patients

Bill Text

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 Speaker Carl E. Heastie

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S08267 Summary:

BILL NOS08267B

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SAME ASSAME AS A07922-B

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SPONSOROBERACKER

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COSPNSR

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MLTSPNSR

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Add §64-m, Town L; add Art 31-K §§1451-a - 1451-p, Tax L

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Establishes a community housing fund in the town of Rochester, county of Ulster, to provide housing opportunities for its residents.

Go to top S08267 Actions:

BILL NOS08267B

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05/28/2025REFERRED TO LOCAL GOVERNMENT

01/07/2026REFERRED TO LOCAL GOVERNMENT

05/20/2026AMEND AND RECOMMIT TO LOCAL GOVERNMENT

05/20/2026PRINT NUMBER 8267A

06/02/2026AMEND AND RECOMMIT TO LOCAL GOVERNMENT

06/02/2026PRINT NUMBER 8267B

Go to topS08267 Committee&nbspVotes:

Go to topS08267 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS08267 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8267--B

 2025-2026 Regular Sessions

 IN SENATE

 May 28, 2025
 ___________

 Introduced by Sen. OBERACKER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Local Government -- recom-
 mitted to the Committee on Local Government in accordance with Senate
 Rule 6, sec. 8 -- committee discharged, bill amended, ordered
 reprinted as amended and recommitted to said committee -- committee
 discharged, bill amended, ordered reprinted as amended and recommitted
 to said committee

 AN ACT to amend the town law and the tax law, in relation to authorizing
 the town of Rochester to establish community housing funds to be fund-
 ed by a supplemental real estate transfer tax

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "Town of Rochester community housing act".
 3 § 2. The town law is amended by adding a new section 64-m to read as
 4 follows:
 5 § 64-m. Town of Rochester community housing fund. 1. Definitions. As
 6 used in this section, the following words and terms shall have the
 7 following meanings:
 8 (a) "Town" means the town of Rochester.
 9 (b) "Community housing" means a primary residential property for an
 10 eligible individual that does not exceed one hundred fifty percent of
 11 the purchase price limits established by the state of New York mortgage
 12 agency low interest rate loan program in non-target categories for
 13 Ulster county in effect on the contract date for the sale of such prop-
 14 erty.
 15 (c) "Board" means the advisory board created pursuant to subdivision
 16 six of this section.
 17 (d) "Fund" means the community housing fund authorized pursuant to
 18 subdivision two of this section.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11037-09-6

 S. 8267--B 2

 1 (e) "First-time homebuyer" means an eligible individual who has not
 2 owned a primary residential property and is not married to a person who
 3 has owned a residential property during the three-year period prior to
 4 such person's purchase of the primary residential property, and who does
 5 not own a vacation or investment home.
 6 (f) "Primary residential property" means any one or two family house,
 7 townhouse, or condominium.
 8 (g) "Eligible individual" means a household with an income that does
 9 not exceed one hundred percent of the income limits as established by
 10 the state of New York mortgage agency low interest rate loan program in
 11 non-target categories for Ulster county in effect on the contract date
 12 for the sale of such property.
 13 2. Fund authorized. The town board of Rochester is authorized to
 14 establish by local law a community housing fund, pursuant to the
 15 provisions of this section. Deposits into the fund may include revenues
 16 of the local government from whatever source, including but not limited
 17 to: (a) all revenues from the supplemental real estate transfer tax
 18 authorized by subdivision two of section fourteen hundred fifty-one-b of
 19 the tax law; (b) all proceeds from any indebtedness or obligations
 20 issued pursuant to the local finance law for community housing opportu-
 21 nity purposes as authorized in subdivision three of this section; (c)
 22 general fund balances or surpluses; (d) any proceeds received by the
 23