Enacts the New York state fair tenant credit reporting act to ensure that negative credit reporting by landlords can only occur under fair and transparent circumstances.
Includes positive rental payment information reporting as a preference in the evaluation of project applications in the New York state low income housing tax credit program; requires landlords to offer tenants the option of positive rental payment information reporting; creates notice requirements for the election of positive rental payment information reporting.
Credit reporting option for tenants provision, credit reporting assistance grants to landlords appropriation, and certain data collection from landlords awarded grants authorization provision
Enacts the "New York state credit risk transparency and investor protection act" requiring issuers of state-backed bonds to issue quarterly risk statements.