Bill > S07181

This bill directs the New York State Division of Housing and Community Renewal to conduct a comprehensive study of state and locally supported low and middle income housing programs, with the goal of developing recommendations for preserving, modernizing, and expanding affordable housing. The study must include methods for retaining and expanding the existing inventory of affordable housing, and the division is required to submit a report with its findings and potential legislative proposals within one year. Simultaneously, the bill establishes a temporary moratorium preventing limited profit, limited dividend, and redevelopment housing companies from voluntarily dissolving without consent from the appropriate authorities (such as the commissioner or local legislative body). This moratorium is designed to halt the potential loss of affordable housing units while the study is conducted. The bill recognizes that the need for affordable housing in New York is at an historically high level and that existing housing programs have sometimes fallen into disrepair or been at risk of being lost. The provisions of the bill related to the dissolution moratorium will expire after 24 months, providing a time-limited intervention to protect existing affordable housing stock while comprehensive solutions are developed.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S7181