New York A 331: Authorizes cities and towns, except New York city, to establish community housing funds

Bill Text

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A00331 Summary:

BILL NOA00331 

&nbsp

SAME ASSAME AS S09674

&nbsp

SPONSORBarrett

&nbsp

COSPNSRWoerner, Otis, Levenberg, Lunsford, Lucas, Schiavoni, Shrestha, Conrad, Weprin, Dinowitz

&nbsp

MLTSPNSR

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Add §6-w, Gen Muni L; add Art 33-C §§1575 - 1589, Tax L

&nbsp

Authorizes cities and towns, except a city with a population of one million or more, to establish community housing funds; authorizes such cities and towns to impose a real estate transfer tax with revenues to be deposited in such funds; makes related provisions.

Go to top A00331 Actions:

BILL NOA00331 

&nbsp

01/08/2025referred to local governments

04/30/2025reported referred to codes

05/20/2025reported referred to ways and means

01/07/2026referred to ways and means

Go to topA00331 Committee&nbspVotes:

Committee:LOCAL GOVERNMENTS Chair:Jones 
DATE:04/30/2025AYE/NAY:11/7 Action: Favorable refer to committee Codes JonesAyeBrownNay

RamosNayFriendNay

WoernerAyeManktelowNay

JacobsonAyeGallahanNay

ClarkAyeSimpsonExcused

ConradAyeBeephanExcused

RiveraAye

LevenbergAye

ShimskyAye

ShresthaAye

SchiavoniAye

WiederAye

KassayNay

O'PharrowNay

Committee:CODES Chair:Dinowitz 
DATE:05/20/2025AYE/NAY:14/6 Action: Favorable refer to committee Ways and Means DinowitzAyeMorinelloNay

CookAyeReillyNay

LavineAyeMikulinNay

WeprinAyeTannousisNay

HevesiAyeAngelinoNay

SeawrightAyeMolitorNay

RosenthalAye

WalkerAye

VanelAye

CruzAye

EpsteinAye

BoresAye

ReyesAbsent

CunninghamAye

RomeroAye

AlvarezExcused

Go to topA00331 Floor&nbspVotes:

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

Go to topA00331 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 331

 2025-2026 Regular Sessions

 IN ASSEMBLY

 (Prefiled)

 January 8, 2025
 ___________

 Introduced by M. of A. BARRETT, WOERNER, OTIS, LEVENBERG, LUNSFORD,
 LUCAS -- read once and referred to the Committee on Local Governments

 AN ACT to amend the general municipal law, in relation to authorizing
 cities and towns, except a city with a population of one million or
 more, to establish community housing funds; to amend the tax law, in
 relation to authorizing cities and towns, except a city with a popu-
 lation of one million or more, to impose a real estate transfer tax
 with revenues therefrom to be deposited in such funds; and providing
 for the repeal of certain provisions of the tax law relating thereto

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

 1 Section 1. The general municipal law is amended by adding a new
 2 section 6-w to read as follows:
 3 § 6-w. Community housing fund. 1. Definitions. As used in this
 4 section, the following words and terms shall have the following mean-
 5 ings:
 6 (a) "City or town" means a city, except a city with a population of
 7 one million or more, or a town.
 8 (b) "Community housing" means a primary residential property for an
 9 eligible individual. The governing body shall establish, by local law,
 10 purchase price limit for community housing, provided that limit shall
 11 not exceed one hundred fifty percent of the purchase price limits estab-
 12 lished by the state of New York mortgage agency low interest rate loan
 13 program in non-target categories for the county in effect on the
 14 contract date for the sale of such property. Community housing shall
 15 include apartments that are accessory to a legally established residen-
 16 tial or commercial use.
 17 (c) "Board" means the advisory board created pursuant to subdivision
 18 six of this section.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00173-01-5

 A. 331 2

 1 (d) "Fund" means the community housing fund authorized pursuant to
 2 subdivision two of this section.
 3 (e) "First-time homebuyer" means an eligible individual who has not
 4 owned a primary residential property and is not married to a person who
 5 has owned a residential property during the three-year period prior to
 6 such person's purchase of the primary residential property, and who does
 7 not own a vacation or investment home.
 8 (f) "Primary residential property" means any one or two family house,
 9 townhouse, or condominium, including accessory apartments.