S 3150 NY

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Establishes the New York state first home grant program; directs the commissioner of homes and community renewal, in consultation with the state comptroller, to implement such program; provides assistance on behalf of a first time home buyer qualified for such program; and for costs in connection with the acquisition, involving an eligible mortgage loan, of an eligible home, including downpayment costs, closing costs, and costs to reduce the rates of interest on eligible mortgage loans; subsidies to make shared equity homes affordable to home buyers by discounting the price for which the home will be sold and to preserve the affordability of the home for subsequent home buyers; and pre-occupancy home modifications required to accommodate qualified home buyers or members of their household with disabilities; excludes the amount of any grant to any first time home buyer awarded or any federal first time home buyer grant program from taxable income for the purpose of calculating New York adjusted gross income.

• Jeremy Cooney Democratic · primary

1. Jan 23, 2025 REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT · upper
2. Mar 10, 2025 REPORTED AND COMMITTED TO FINANCE · upper
3. Jan 7, 2026 REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT · upper
4. Feb 10, 2026 REPORTED AND COMMITTED TO FINANCE · upper

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

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