Bill > S06761

This bill requires that in cities with a population of one million or more (which specifically means New York City), any affordable housing program started after the bill's effective date must calculate Area Median Income (AMI) using the lower of two methods: either the AMI specific to the zip code where the housing program is located or the regional AMI. AMI is a key metric used in housing policy to determine affordability and eligibility for subsidized or income-restricted housing. By mandating the use of the lower AMI figure, the bill aims to potentially make housing more affordable by using income calculations that reflect lower-income neighborhoods or regions. This could result in housing programs using income thresholds that are more representative of local economic conditions, potentially making housing units accessible to a broader range of low and moderate-income residents. The bill takes effect immediately upon passage, and applies to all new affordable housing programs in New York City.

Government Affairs, Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S6761