Relates to the de-regulation of rent-stabilized housing accommodations; eliminates rent regulation for any regulated housing accommodation that becomes vacant on or after June 16, 2026; makes exceptions.
Grants credit against personal income tax to purchasers of residential housing in the amount of any downpayment made on such housing; provides that the maximum credit shall not exceed 5 percent of the purchase price of the residential housing; requires taxpayers to meet eligibility requirements imposed by the state of New York mortgage agency.
Prohibits persons whose income is greater than one hundred twenty-five percent of the area median income from occupying certain housing accommodations.
Provides preferences in contracts under the affordable home ownership program to police officers, teachers and firefighters who live in the municipality or school district in which they work; defines relevant terms.
Memorializing Governor Kathy Hochul to proclaim May 9, 2025, as Military Spouse Appreciation Day in the State of New York, in conjunction with the observance of National Military Spouse Appreciation Day