assembly Bill A9872

2021-2022 Legislative Session

Enacts the "accessory dwelling unit incentive act"

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (1)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 19, 2022 referred to housing

Co-Sponsors

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A9872 (ACTIVE) - Details

Law Section:
Private Housing Finance Law
Laws Affected:
Add Art 32 §§1290 - 1292, Priv Hous Fin L; amd §606, Tax L; add §463, RPT L

A9872 (ACTIVE) - Summary

Enacts the "accessory dwelling unit incentive act" to establish the accessory dwelling unit forgivable loan program by the division of homes and community renewal; defines terms; makes related provisions.

A9872 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9872
 
                           I N  A S S E M B L Y
 
                              April 19, 2022
                                ___________
 
 Introduced by M. of A. THIELE -- read once and referred to the Committee
   on Housing
 
 AN  ACT  to  amend  the private housing finance law, the tax law and the
   real property tax law, in relation to enacting the accessory  dwelling
   unit incentive act
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Short title. This act shall be known and may  be  cited  as
 the "accessory dwelling unit incentive act".
   §  2. The private housing finance law is amended by adding a new arti-
 cle 32 to read as follows:
                                ARTICLE 32
              ACCESSORY DWELLING UNIT FORGIVABLE LOAN PROGRAM
 
 SECTION 1290. LEGISLATIVE FINDINGS AND PURPOSE.
         1291. DEFINITIONS.
         1292. ACCESSORY DWELLING UNIT FORGIVABLE LOAN PROGRAM.
   § 1290. LEGISLATIVE FINDINGS AND PURPOSE. THE LEGISLATURE HEREBY FINDS
 THAT ACCORDING TO A 2019 REPORT FROM THE STATE COMPTROLLER, MILLIONS  OF
 RENTERS AND HOMEOWNERS IN OUR STATE STRUGGLE WITH HIGH HOUSING COSTS. AS
 OF 2017, NEARLY 2.8 MILLION NEW YORK HOUSEHOLDS FACED HOUSING COSTS THAT
 WERE  30  PERCENT OR MORE OF THEIR INCOME, A COMMONLY ACCEPTED BENCHMARK
 FOR HOUSING AFFORDABILITY. ALMOST HALF OF ALL RENTERS AND MORE THAN  ONE
 IN  FOUR  HOMEOWNERS  WERE  IN  THIS  CATEGORY, ACCORDING TO U.S. CENSUS
 BUREAU DATA. BASED ON CRITERIA USED BY THE U.S.  DEPARTMENT  OF  HOUSING
 AND URBAN DEVELOPMENT, MORE THAN 1.3 MILLION HOUSEHOLDS - INCLUDING MORE
 THAN  ONE  OF  EVERY  FOUR RENTERS - WERE "SEVERELY BURDENED" BY HOUSING
 COSTS OF HALF OR MORE OF THEIR INCOME.  HIGH  HOUSING  COSTS  MAY  FORCE
 FAMILIES  AND  INDIVIDUALS  TO REDUCE OR FOREGO OTHER NECESSITIES.  MANY
 FIND IT IMPOSSIBLE TO PUT ASIDE SAVINGS FOR EMERGENCY NEEDS, COLLEGE  OR
 RETIREMENT.  SOME  MAY FACE EVICTION OR CONCLUDE THEIR ONLY CHOICE IS TO
 MOVE TO LOWER-COST LOCATIONS. SUCH OUTCOMES HAVE BROADER, HARMFUL IMPLI-
 CATIONS FOR NEW YORK'S ECONOMY.
   THE HOUSING AFFORDABILITY CHALLENGE  RESULTS  FROM  A  COMBINATION  OF
 FACTORS. STATEWIDE, MEDIAN RENTAL COSTS ROSE BY NEARLY 13 PERCENT, AFTER
 ADJUSTING  FOR  INFLATION, OVER THE DECADE ENDING IN 2017, COMPARED TO A
 2.5 PERCENT INCREASE IN MEDIAN HOUSEHOLD INCOME FOR RENTERS.