New York Senate Bill 9913

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on September 16 2024 - 25% progression
Action: 2024-09-16 - REFERRED TO RULES
Pending: Senate Rules Committee
Text: Latest bill text (Introduced) [HTML]

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.

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.

Sen. Jeremy Cooney [D]

Date	Chamber	Action
2024-09-16	Senate	REFERRED TO RULES

Type	Source
Summary	https://www.nysenate.gov/legislation/bills/2023/S9913
Text	https://assembly.state.ny.us/leg/?default_fld=&bn=S09913&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S09913