Bill > S02065

This bill establishes a rental assistance loan-to-grant program through the New York Division of Housing and Community Renewal to help landlords of small residential properties (up to six units) who lost rental income during the COVID-19 state disaster emergency. The program will provide loans to cover rent arrearages for tenants who were unable to pay due to unemployment or medical emergencies. If tenants later pay their back rent, the landlord will repay the loan; if tenants do not pay, the loan will be converted to a grant, and the landlord will be held harmless from repayment (unless fraud is involved). The program will be funded by federal Emergency Rental Assistance funds, remaining CARES Act money, and additional federal pandemic-related rental assistance allocations. The Commissioner of Housing and Community Renewal will develop detailed rules for program implementation, including eligibility standards, application procedures, fund distribution, and loan-to-grant conversion processes. Importantly, the bill explicitly states that tenants are still legally obligated to pay rent according to their rental agreements. The program will be in effect from the ninetieth day after becoming law and will expire on January 1, 2027.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S2065