New York State First Home Savings Program: This bill, S.1157 , sponsored by Senator Jeremy Cooney, would establish a program to allow first time homebuyers to establish tax-exempt/deductible savings accounts to buy their first home. Establishing a study on real property tax saturation: This bill, S.265 , sponsored by Senator Pete Harckham, would direct the state Board of Real Property Tax Services to conduct a study on real property tax saturation. Transferring Tax Credits for Rehabilitation of Historic Properties: This bill, S.2124 , sponsored by Senator Brian Kavanagh, would amend the state tax law to authorize the pass-through or transfer of the credits for the rehabilitation of historic properties.
Ensures Availability of Services through The Homeownership Protection Program: This bill, S.2627 , sponsored by Senator Brian Kavanagh, will help support the continued availability of free housing counseling and legal services to homeowners through The State Homeowner Protection Program (HOPP). Expands eligibility for the Low Interest Rate Program (LIRP): This bill, S.3190 , sponsored by Senator Brian Kavanagh, would expand eligibility for the Low Interest Rate Program (LIRP) of the State of New York Mortgage Agency (SONYMA) to recent college or apprenticeship graduates and workforce training program graduates for the purchase of mortgages in economically depressed areas. Implements an up to two-year look-back period for SCRIE and DRIE: This bill, S.2534 , sponsored by Senator James Sanders, would provide a lookback period of up to two years to the original date of eligibility for the senior citizen rent increase exemption (SCRIE) and the Disability Rent Increase Exemption (DRIE). Requires written justifications for rent increases by home park owners: This bill, S.228 , sponsored by Senator James Skoufis, requires manufactured home park owners to provide a written justification for any rent increases in excess of three percent.
The housing-related bills that Democrats in the state Senate are passing today.
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