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NY A05557
Bill
Status
2/14/2025
Primary Sponsor
D. Billy Jones
Click for details
AI Summary
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Adds housing to the official policy purposes of New York State industrial development agencies (IDAs), alongside existing priorities like economic development, recreation, and renewable energy
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Expands the definition of "project" under the General Municipal Law and Public Authorities Law to explicitly include housing and housing facilities as eligible for IDA financial assistance
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Requires IDA cost-benefit analyses to evaluate a project's contribution to state housing goals, including increasing affordable, workforce, and senior housing options
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Mandates that IDAs consider the extent to which proposed projects will bring additional housing units to the market when establishing uniform tax exemption policies
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Applies these housing-related changes to multiple public authorities including the Troy Industrial Development Authority and the City of Albany Industrial Development Agency
Legislative Description
Provides that a policy of this state should be to increase housing options and opportunities, including but not limited to affordable, and workforce and senior housing.
Last Action
enacting clause stricken
9/8/2025