Bill > A04455

This bill amends the Public Housing Law, the Real Property Tax Law, and the State Finance Law to address vacant residential housing units in New York. The key provisions are: 1. The bill directs the Commissioner of Housing and Community Renewal to create and maintain a database of vacant residential housing units in buildings with six or more units, and requires owners to register certain vacant units in this database. 2. The bill establishes an "Affordable Housing Development Program" to use funds from the newly created "Affordable Housing Development Fund" to provide rental subsidies and acquire and rehabilitate multi-unit buildings with unoccupied units for affordable housing. 3. The bill imposes an annual $3,000 tax on vacant residential housing units, with certain exemptions and exclusions, and requires the revenue from this tax to be deposited into the Affordable Housing Development Fund. 4. The bill grants the Commissioner of Taxation and Finance and the Commissioner of Housing and Community Renewal authority to administer and enforce the new laws.