Bill > S05226

This bill establishes new standards for advertising deeply affordable housing in New York State, defining "deeply affordable" as housing units that are affordable to households making 60% or less of the area median income (AMI), as determined by the U.S. Department of Housing and Urban Development (HUD). The bill prohibits falsely advertising housing units as deeply affordable and requires that any advertisement for a building or development with both market-rate and deeply affordable units must clearly state either the percentage or specific number of deeply affordable units. Municipal governments and state agencies must follow these advertising rules when communicating about available housing units, ensuring transparency in housing marketing. Additionally, the bill clarifies that these advertising standards do not affect eligibility for tax credits or other affordability incentive programs, but any advertisement under such programs must still comply with the new rules. The law will take effect 180 days after it becomes law, giving stakeholders time to adjust their marketing practices to meet the new requirements.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S5226