Senate Bill S9090

2023-2024 Legislative Session

Enacts the "accessory dwelling unit incentive act"

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Housing, Construction And Community Development 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-S9090 (ACTIVE) - Details

See Assembly Version of this Bill:
A1401
Current Committee:
Senate Housing, Construction And Community Development
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
Versions Introduced in 2021-2022 Legislative Session:
A9872

2023-S9090 (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.

2023-S9090 (ACTIVE) - Sponsor Memo

2023-S9090 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9090
 
                             I N  S E N A T E
 
                              April 22, 2024
                                ___________
 
 Introduced  by  Sen.  RYAN  --  read twice and ordered printed, and when
   printed to be committed to the Committee on Housing, Construction  and
   Community Development
 
 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
 
              

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