Assembly Bill A9088

2023-2024 Legislative Session

Establishes the New York State Social Housing Development Authority

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Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A9088 (ACTIVE) - Details

See Senate Version of this Bill:
Current Committee:
Assembly Corporations, Authorities And Commissions
Law Section:

2023-A9088 (ACTIVE) - Summary

Establishes the New York State social housing development authority as a public benefit corporation to increase the supply of permanently affordable housing in the state through the acquisition of land and renovation or rehabilitation of existing real property, and through the construction of new, permanently affordable housing.

2023-A9088 (ACTIVE) - Bill Text download pdf

                     S T A T E   O F   N E W   Y O R K
                           I N  A S S E M B L Y
                             February 6, 2024
   FORREST, MAMDANI, L. ROSENTHAL, EPSTEIN -- read once and  referred  to
   the Committee on Corporations, Authorities and Commissions
 AN  ACT  in  relation  to  creating a public benefit corporation for the
   construction, acquisition, and rehabilitation of permanently  afforda-
   ble housing; and making an appropriation therefor

   Section 1. Short title. This act shall be known and may  be  cited  as
 the "permanently affordable social housing for New Yorkers act".
   §  2.  Legislative  findings and declaration; statement of policy. The
 legislature hereby finds and declares that safe, sanitary, plentiful and
 affordable housing accommodations are necessary for the  public  health,
 general welfare, and economy of the state. The legislature further finds
 and declares that a shortage of available affordable housing in communi-
 ties  across New York undermines the economy of the state as a whole and
 that a state program to leverage  private,  local,  state,  and  federal
 funds to build new, high-quality housing for working families is desper-
 ately  needed  in  order  to cure the shortfall in supply created by the
 private market. While the private housing market  has  failed  to  build
 enough  housing  to  create affordability across all levels of income in
 New York, private landlords have also seized  upon  the  opportunity  to
 rapaciously  extract rents and profit at the expense of New Yorkers, who
 have witnessed extraordinary increases in the cost of living  in  recent
 years,  the largest component of which is the cost of housing, which has
 increased at annual rates far in excess of gains to wages or income  for
 working-class New Yorkers.
   Whereas  the  legislature  has  previously  authorized the creation of
 transportation  authorities,  port  authorities,  and  water  and  sewer
 authorities,  among  others,  to  manage  the  construction,  operation,
 financing, and improvement of various forms of state infrastructure  and
 public  services,  and to insulate the provision of such services to New
 Yorkers from both the vicissitudes of political administrations and  the
 greed of private ownership; and whereas social housing, being permanent-
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.


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