S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7380
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 25, 2025
                                ___________
 
 Introduced  by  M.  of  A.  CUNNINGHAM  -- read once and referred to the
   Committee on Housing
 
 AN ACT to amend the general business law, in relation to setting  stand-
   ards for advertising affordable housing
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The general business law is amended by adding a new section
 350-a-1 to read as follows:
   § 350-A-1. STANDARDS FOR ADVERTISING  AFFORDABLE  HOUSING.  1.  (A)  A
 HOUSING  UNIT MAY ONLY BE ADVERTISED AS "AFFORDABLE" IF IT IS AFFORDABLE
 TO A HOUSEHOLD MAKING SIXTY PERCENT OR LESS OF THE AREA  MEDIAN  INCOME,
 AS DEFINED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOP-
 MENT.
   (B) A HOUSING UNIT MAY ONLY BE ADVERTISED AS "DEEPLY AFFORDABLE" IF IT
 IS  AFFORDABLE  TO  A HOUSEHOLD MAKING FORTY PERCENT OR LESS OF THE AREA
 MEDIAN INCOME, AS DEFINED BY THE UNITED STATES DEPARTMENT OF HOUSING AND
 URBAN DEVELOPMENT.
   2. (A) DESCRIBING A HOUSING UNIT THAT DOES  NOT  MEET  THE  APPLICABLE
 CRITERIA  OF  SUBDIVISION  ONE  OF  THIS SECTION AS AFFORDABLE OR DEEPLY
 AFFORDABLE IN ANY PHYSICAL OR DIGITAL PROMOTIONAL MATERIAL CREATED BY  A
 PERSON OR ENTITY WITH A FINANCIAL INTEREST IN SUCH HOUSING UNIT SHALL BE
 CONSIDERED  FALSE  ADVERTISING FOR THE PURPOSES OF SECTION THREE HUNDRED
 FIFTY OF THIS ARTICLE.
   (B) IN CASES WHERE A PERSON OR ENTITY IS ADVERTISING HOUSING UNITS  IN
 A  BUILDING OR HOUSING DEVELOPMENT THAT ARE MARKET RATE ALONG WITH UNITS
 WHICH MEET THE APPLICABLE DEFINITION OF AFFORDABLE OR DEEPLY AFFORDABLE,
 SUCH ADVERTISEMENT SHALL CLEARLY STATE  EITHER  (I)  THE  PERCENTAGE  OF
 UNITS  IN  SUCH BUILDING OR HOUSING DEVELOPMENT THAT MEET THE APPLICABLE
 DEFINITIONS OF THIS SECTION OR (II) THE NUMBER OF UNITS  THAT  MEET  THE
 APPLICABLE  DEFINITION OF AFFORDABLE OR DEEPLY AFFORDABLE AND THE NUMBER
 OF UNITS THAT ARE MARKET-RATE.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD05091-01-5
              

 A. 7380                             2
 
   3. WHEN A MUNICIPAL GOVERNMENT OR THE STATE PROVIDE INFORMATION TO THE
 PUBLIC ABOUT AVAILABLE AFFORDABLE HOUSING UNITS, THEY  SHALL  ADHERE  TO
 THE  DEFINITIONS  AND  ADVERTISING  RULES  ESTABLISHED  PURSUANT TO THIS
 SECTION.   THIS INCLUDES PUBLIC-FACING  COMMUNICATIONS,  DATABASES,  AND
 PROMOTIONAL MATERIALS REGARDING AVAILABLE HOUSING UNITS.
   4.  THE  PROVISIONS  OF  THIS SECTION SHALL NOT BE CONSTRUED TO IMPACT
 ELIGIBILITY FOR TAX CREDITS, GRANTS, OR OTHER INCENTIVES FOR AFFORDABIL-
 ITY PROGRAMS WITH DEFINITIONS THAT DIFFER FROM THOSE  IN  THIS  SECTION;
 PROVIDED,  HOWEVER,  THAT ADVERTISEMENT OF ANY HOUSING UNIT UNDER SUCH A
 TAX CREDIT, GRANT OR OTHER INCENTIVE PROGRAM SHALL BE  GOVERNED  BY  THE
 PROVISIONS OF THIS SECTION.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.