Bill > A09299

This bill amends several sections of New York's General Municipal Law and Public Authorities Law to explicitly include housing as a policy goal and potential focus for economic development agencies. The bill broadens the definition of "project" and "purposes" for industrial development agencies to include housing facilities, particularly emphasizing affordable, workforce, and senior housing. Specifically, the bill requires agencies to consider housing development when evaluating potential projects, including assessing how a project might contribute to increasing housing stock and providing additional housing units to the market. The changes mean that when industrial development agencies review potential projects for financial assistance or tax exemptions, they must now factor in the project's potential contribution to the state's housing goals, alongside existing considerations like job creation, private sector investment, and economic development. By inserting housing into these legal frameworks, the bill signals a state-level commitment to addressing housing availability and affordability by using existing economic development mechanisms to encourage housing development across different types of communities.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A9299