Bill > S01352

This bill authorizes the creation of $20 billion in state debt through the Save Public Housing Bond Act of 2025, specifically to address capital needs of public housing across New York State. The bill allows the state comptroller to issue and sell bonds for this purpose, with provisions ensuring the bonds will be tax-exempt under federal tax law. The funds can be used by state or local agencies, non-profit entities, and higher educational institutions to support public housing infrastructure and improvements. The bill requires voter approval through a ballot measure at the November 2025 general election, where voters will decide whether to authorize the creation of this state debt. If approved by a majority of voters, the bonds can be issued to provide funding for critical public housing capital needs, with the total bond amount not exceeding $20 billion and subject to specific financial regulations outlined in the state finance law. The bill is designed to provide a significant financial resource for modernizing and maintaining public housing infrastructure statewide.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/S1352