Bill > S06516

This bill directs the New York State Division of Housing and Community Renewal to conduct a comprehensive study on alternatives to the existing Affordable New York Housing Program (which is currently codified under section 421-a of the real property tax law). The division is required to investigate new models and partnerships for providing affordable housing to state residents, and will need to consult with relevant agencies or organizations during the study. Within one year of the bill's effective date, the division must prepare and submit a detailed report to key state leadership, including the governor, senate and assembly leaders, containing specific findings and recommendations for potential legislative and regulatory actions that could replace the current affordable housing program with a more effective solution. The bill would take effect immediately upon passage, signaling the urgency of addressing housing affordability challenges in New York State.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S6516