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NY A01769
Bill
Status
1/14/2025
Primary Sponsor
Linda Rosenthal
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AI Summary
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Requires the Commissioner of Housing and Community Renewal to establish a public database of all residential units in buildings with 6+ units that have been vacant for at least 180 days
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Mandates building owners register vacant units under penalty of perjury if the units were previously rent-stabilized, rent-controlled, or government-subsidized and are not being offered at legal rates
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Imposes a $3,000 annual property tax surcharge per vacant residential unit beginning in fiscal year 2027, with exemptions for 501(c)(3) organizations and government entities
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Creates an "affordable housing development program" to provide rental subsidies for seniors (62+) and households earning $50,000 or less, and to acquire/rehabilitate buildings where at least one-third of units are unoccupied
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Establishes an "affordable housing development fund" to receive revenues from the vacancy tax, with funds used first for tax administration costs and then for the affordable housing program
Legislative Description
Directs the commissioner of housing and community renewal to create and maintain a database of vacant residential housing units, and to create an affordable housing development program; imposes a tax on vacant residential housing units; creates an affordable housing development program fund.
Last Action
referred to housing
1/7/2026