New York S 1398: Establishes the block by block homeownership program

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S01398 Summary:

BILL NOS01398A

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SAME ASSAME AS A06290-A

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SPONSORRYAN S

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COSPNSRFAHY

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MLTSPNSR

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Add Art 33 §§1300 & 1301, Priv Hous Fin L

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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.

Go to top S01398 Actions:

BILL NOS01398A

&nbsp

01/09/2025REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

03/31/2025AMEND (T) AND RECOMMIT TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

03/31/2025PRINT NUMBER 1398A

05/12/2025REPORTED AND COMMITTED TO FINANCE

05/29/2025COMMITTEE DISCHARGED AND COMMITTED TO RULES

05/29/2025ORDERED TO THIRD READING CAL.1471

06/05/2025PASSED SENATE

06/05/2025DELIVERED TO ASSEMBLY

06/05/2025referred to housing

Go to topS01398 Committee&nbspVotes:

Go to topS01398 Floor&nbspVotes:

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

Go to topS01398 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 1398--A

 2025-2026 Regular Sessions

 IN SENATE

 January 9, 2025
 ___________

 Introduced by Sen. S. RYAN -- read twice and ordered printed, and when
 printed to be committed to the Committee on Housing, Construction and
 Community Development -- committee discharged, bill amended, ordered
 reprinted as amended and recommitted to said committee

 AN ACT to amend the private housing finance law, in relation to estab-
 lishing the block by block homeownership program

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

 1 Section 1. The private housing finance law is amended by adding a new
 2 article 33 to read as follows:
 3 ARTICLE XXXIII
 4 BLOCK BY BLOCK HOMEOWNERSHIP PROGRAM
 5 Section 1300. Legislative purpose.
 6 1301. Block by block homeownership program.
 7 § 1300. Legislative purpose. It is hereby declared and found that
 8 there exists across upstate New York, and particularly in the cities of
 9 Buffalo, Rochester, Syracuse, Albany, and Binghamton, a shortage of
 10 affordable housing units available for purchase. It is further found
 11 that homeownership is essential for building generational wealth, and
 12 that the state therefore has an interest in promoting homeownership. In
 13 order, further, to promote homeownership, it is hereby declared that
 14 additional provisions should be made to provide public monies for the
 15 purposes of constructing, preserving, and rehabilitating one- to two-fa-
 16 mily dwellings on underutilized land throughout the state, with an
 17 emphasis on the cities of Buffalo, Rochester, Syracuse, Albany, and
 18 Binghamton for purchase by low and moderate income buyers. The necessi-
 19 ty in the public interest for the provisions of this article is hereby
 20 declared as a matter of legislative determination.
 21 § 1301. Block by block homeownership program. 1. The division of
 22 housing and community renewal shall, subject to appropriation, develop a
 23 program to make capital subsidies available for the purpose of

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD02989-02-5

 S. 1398--A 2

 1 constructing, preserving, and rehabilitating one- to two-family dwell-
 2 ings outside of a city with a population of one million or more. The
 3 commissioner shall promulgate rules and regulations sufficient for the
 4 creation of a new program for the purpose of constructing, preserving,
 5 and rehabilitating such one- to two-family dwellings.
 6 2. Funding for the program created pursuant to this article shall, to
 7 the extent practicable, be prioritized in the cities of Buffalo, Roches-
 8 ter, Syracuse, Albany, and Binghamton for development on vacant, aban-
 9 doned, or underutilized land owned by the municipality.
 10 3. Dwellings created pursuant to this program shall be sold to a not-
 11 for-profit corporation for the purpose of resale or individuals or fami-
 12 lies who are low or moderate income, as determined by the division of
 13 housing and community renewal, at the time of sale, who own no other
 14 real property, and who intend to use the dwelling