Bill > S05109

This bill establishes a voluntary "shovel-ready housing program" designed to incentivize municipalities to increase housing development by offering tax rebates and infrastructure grants. Under the program, municipalities (excluding cities with over one million residents) can pre-authorize property parcels for housing construction, with a requirement to increase housing units by at least 1% or 10 units, whichever is greater. Eligible homeowners in participating municipalities can receive a tax credit based on their STAR (School Tax Relief) exemption status and income level, with credits ranging from 18% to 163% of their STAR tax savings for those outside New York City. Additionally, participating municipalities will receive infrastructure grants equivalent to double their previous year's CHIPS (Consolidated Local Street and Highway Improvement Program) funding, which must be used for infrastructure projects like roads, bridges, sewers, power generation, and broadband that support housing construction. The program aims to streamline housing development by pre-authorizing parcels and providing financial incentives to both municipalities and homeowners, while ensuring local control and oversight through consultation with municipal governments and certification by the state comptroller.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S5109