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NY A09876
Bill
Status
4/24/2024
Primary Sponsor
John McDonald
Click for details
AI Summary
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Requires the Division of Housing and Community Renewal to establish a "shovel-ready housing program" within one year, allowing municipalities (excluding cities with over 1 million population) to pre-authorize property parcels for housing construction.
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Municipalities must pre-authorize parcels sufficient to increase housing units by at least 1% or a minimum of 10 units (whichever is greater) to participate in the program.
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Creates a tax rebate credit for eligible homeowners in participating municipalities, with credit amounts ranging from 18% to 163% of STAR tax savings based on income level, capped at $250,000 qualified gross income.
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Provides annual infrastructure grants to participating municipalities equal to double their previous year's CHIPS (Consolidated Local Street and Highway Improvement Program) funding for roads, bridges, sewers, power, and broadband projects.
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Takes effect immediately upon enactment.
Legislative Description
Establishes the shovel-ready housing program under which certain municipalities, at their option, may pre-authorize parcels of property for the construction of housing; establishes a shovel-ready community tax rebate for taxpayers residing in municipalities that opt-in to the shovel-ready housing program; provides for annual apportionment to municipalities that have certified participation in the shovel-ready housing program.
Last Action
referred to housing
4/24/2024