Bill > A07704

This bill amends several housing laws in New York to prohibit individuals or households whose income exceeds 125% of the area median income (AMI) from occupying certain rent-controlled, rent-stabilized, and emergency housing accommodations. The legislation introduces means testing for housing eligibility, with specific provisions to protect current tenants: those already living in such housing who subsequently exceed the income threshold will be allowed to remain in their units until their current lease expires. After the lease ends, continued occupancy would constitute grounds for eviction. The bill imposes civil penalties of up to $500 per day for tenants who willfully provide false income documentation to obtain or maintain tenancy. Additionally, the bill requires that any person inheriting tenancy through succession must also meet the income eligibility requirements. The Division of Homes and Community Renewal and the Department of Taxation and Finance are tasked with creating rules and regulations to implement these changes, with a specific provision to protect housing owners and agents from liability. Notably, the income restrictions for housing accommodations will take full effect on January 1, 2028, providing a transition period for current tenants and the housing market.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/A7704