New York S 4309: Authorizes labor unions to work with the city of New York to finance the construction of affordable housing for its members

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S04309 Summary:

BILL NOS04309 

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SAME ASSAME AS A07107

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SPONSORPARKER

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COSPNSR

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MLTSPNSR

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Add §1154, Priv Hous Fin L

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Authorizes labor unions to work with the city of New York to finance the construction of affordable housing for its members.

Go to top S04309 Actions:

BILL NOS04309 

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02/04/2025REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

01/07/2026REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT

Go to topS04309 Committee&nbspVotes:

Go to topS04309 Floor&nbspVotes:

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

Go to topS04309 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4309

 2025-2026 Regular Sessions

 IN SENATE

 February 4, 2025
 ___________

 Introduced by Sen. PARKER -- read twice and ordered printed, and when
 printed to be committed to the Committee on Housing, Construction and
 Community Development

 AN ACT to amend the private housing finance law, in relation to labor
 union financed housing

 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 section 1154 to read as follows:
 3 § 1154. Partnership with labor unions. 1. Notwithstanding any other
 4 provision of law to the contrary, the city of New York may enter into a
 5 cooperative partnership with any collective bargaining unit that repres-
 6 ents employees of such city to finance the construction of affordable
 7 housing for the members of such collective bargaining unit.
 8 2. Any financing for the construction of affordable housing pursuant
 9 to this section shall consist of units that are exclusively occupied by
 10 employees of the city of New York. For purposes of this subdivision, a
 11 unit shall be deemed occupied by an employee of the city if at least one
 12 person residing in such unit is an employee of the city, such employee
 13 actually resides in the unit for more than fifty percent of the year,
 14 and the combined income of all members residing in the unit is less than
 15 one hundred twenty-five percent of the area median income.
 16 3. A lease or rental agreement of any unit created pursuant to this
 17 section shall not be extended or renewed to any person if the criteria
 18 established in subdivision two of this section are no longer satisfied.
 19 § 2. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08303-01-5

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