April 2023

Weekly Report for April 28, 2023

Still Time to Register to attend NYSAR’s Lobby Day: Tuesday, May 2
Register today to attend NYSAR’s annual Lobby Day at the State Capitol in Albany on Tuesday, May 2, 2023 with remarks scheduled to be delivered by State Senator John Mannion (Central NY) and NYSAR 2023 President John Vernazza. NYSAR’s Lobby Day provides REALTORS^® the opportunity to speak directly to their state lawmakers on critical issues impacting our industry. Please contact your local REALTOR^® association or board to coordinate your attendance. For general information on the day’s schedule, Talking Points, reimbursement policy, and to register for Lobby Day, click here. You can also read NYSAR’s Lobby Day FAQ sheet.

NYSAR meets with state lawmakers on coop transparency and first-time homebuyer program
This week, NSYAR met with state lawmakers and staff advocating for the introduction and advancement of priority legislation including bills that would help first-time homebuyers save for a home and increase transparency and fairness in the coop application process. On Wednesday, Senator Jeremy Cooney (Rochester) introduced a bill that would create the NYS first home savings program (S.6574), which NYSAR has supported and helped advance over the last several years. NYSAR also met with the office of Assemblymember Charles Lavine (Nassau) to advocate for the advancement of coop transparency legislation (A.1778-A). Both bills are on NYSAR’s Lobby Day agenda and will be discussed in REALTOR^® meetings with lawmakers. You can read more on these issues here.

Gov. Hochul announces ‘conceptual’ state budget deal
Governor Hochul announced late Thursday that she and Democratic leaders of the State Legislature reached a “conceptual agreement” on a $229 billion state budget (about $2 billion more than her original proposal), which original deadline was April 1. As of Friday, no budget bills have been printed, so specific details and language is unknown. Some highlights of the conceptual agreement include:

An agreement to amend the state’s bail reform laws to remove the “least restrictive” measure allowing judges more discretion to set bail in violent cases;
A new requirement that all new building construction be all-electric beginning in 2026, and for larger buildings beginning in 2029.
Increasing the state minimum wage downstate by $.50 a year until it reaches $17 an hour; and in areas north of Westchester, minimum wage will go to $15 an hour next year, then gradually to $16 an hour over the next two years. Raises in the minimum wage will then automatically increase in line with the CPI.
Increasing cigarette taxes; allowing the revival of 14 charter schools in NYC; and expanding the state child tax credit.

New York set to ban gas furnaces, stoves in new buildings
Under the recently announced state budget agreement announced by Gov. Hochul Thursday, New York will require new buildings to be zero-emissions starting in 2026, however details have yet to be released. Gov. Hochul indicated that she excpects the deal to include rebates to consumers. It is expected that the state’s budget will ban fossil fuel combustion in most new buildings under seven stories starting in 2026, with larger buildings covered in 2029, meaning that there will be no propane heating, gas furnaces or gas stoves in most new construction. Back-up emergency generators are likely to be allowed. NYSAR will continue to provide updates on this measure as more details are released.

NAR Urges FHFA to eliminate LLPA increases
On April 26, NAR sent a letter to the Federal Housing Finance Agency (FHFA) urging for the elimination of recently announced increases in upfront fees by Fannie Mae and Freddie Mac known as loan level pricing adjustments (LLPAs). The pending pricing change is set to go into effect on May 1, 2023. Specifically, NAR raised concerns with fee increases on borrowers who make down payments of 5%-25% and with credit scores greater than 680. Read more here.

Weekly Report for April 21, 2023

NYSAR Pre-Lobby Day Issues Briefing Live Zoom: April 28 at 11a.m.
REALTORS® are invited to attend virtually NYSAR’s Pre-Lobby Day Issues Briefing Live Zoom on Friday, April 28 at 11 a.m. for a legislative overview and to learn more about the issues we will be speaking to state lawmakers about on NYSAR’s Lobby Day on Tuesday, May 2. You will also have the opportunity to ask any questions you may have about Lobby Day. Registration is not required. For the Zoom meeting link, click here.

Still Time to Register to attend NYSAR Lobby Day: Tuesday, May 2
Register today to attend NYSAR’s annual Lobby Day at the State Capitol in Albany on Tuesday, May 2, 2023. NYSAR’s Lobby Day provides REALTORS^® the opportunity to speak directly to their state lawmakers on critical issues impacting our industry. Please contact your local REALTOR^® association or board to coordinate your attendance. For general information on the day’s schedule, reimbursement policy, and to register for Lobby Day, click here. You can also read NYSAR’s Lobby Day FAQ sheet.

Reported: Major housing policy removed from state budget negotiations
Reporting has indicating that major housing policy is being removed from state budget negotiations as Governor Hochul and state lawmakers have failed to come to an agreement on aspects of the proposed “Housing Compact” agenda and additional tenant protections such as “good cause” eviction. If major housing reforms remain excluded from the budget, they could still be addressed by the legislature before their June recess. Over these last several weeks, hundreds of REALTORS^® from across the state have been voicing their concerns over “good cause” eviction, urging the governor and lawmakers to oppose the legislation. NYSAR continues to actively monitor the issue and engage state lawmakers along with our partnered coalition Homeowners for an Affordable New York.

NYSAR meets with Sen. Sanders’ office on coop disclosure
This week, NYSAR staff met with Sen. James Sanders’ office (D-Queens) to discuss advancing NYSAR-supported coop fairness and transparency legislation (A.1778; S.2964-A; and S.5789/A.2685). Sen. Sanders authors one of these bills and is a sponsor of another. The bills are also included in NYSAR’s legislative priorities to be discussed on our REALTOR^® Lobby Day, Tuesday, May 2.

Weekly Report for April 14, 2023

NYC Council introduces coop transparency bill
Following NYSAR advocacy efforts, NYC Council Member Marjorie Velazquez has introduced a NYSAR-supported bill (Int. 1002) that would combat illegal discrimination in the cooperative housing purchase process by creating a clear timeline for the response to applicants by coop boards. Failure to adhere to such timelines by a coop board could result in consent to the sale. NYSAR continues to strongly support establishing fairness and transparency in coops both at the state level and before the NYC Council. This overall issue will be a priority at NYSAR’s Lobby Day in Albany on May 2, 2023.

Register to attend NYSAR Lobby Day: Tuesday, May 2
Register today to attend NYSAR’s annual Lobby Day at the State Capitol in Albany on Tuesday, May 2, 2023. NYSAR’s Lobby Day provides REALTORS^® the opportunity to speak directly to their state lawmakers on critical issues impacting our industry. Please contact your local REALTOR^® association or board to coordinate your attendance. For general information on the day’s schedule, reimbursement policy, and to register for Lobby Day, click here. You can also read NYSAR’s Lobby Day FAQ sheet.

Housing becomes top issue stalling budget
Housing appears to have become the top budget issue being negotiated between Governor Hochul and the State Legislature surpassing bail reform talks, according to reports. The governor continues to push her affordable housing plan aimed at creating 800,000 new units over the next decade despite resistance from suburban lawmakers, while state lawmakers are pressuring leaders to include additional tenant protections such as “good cause” eviction in the budget. Please email Governor Hochul and state lawmakers urging them to say NO to the inclusion of “good cause” eviction in the budget by Taking Action here!

Weekly Report for April 7, 2023

Register to attend NYSAR Lobby Day: Tuesday, May 2
Register today to attend NYSAR’s annual Lobby Day at the State Capitol in Albany on Tuesday, May 2, 2023. NYSAR’s Lobby Day provides REALTORS^® the opportunity to speak directly to their state lawmakers on critical issues impacting our industry. Please contact your local REALTOR® association or board to coordinate your attendance. For general information on the day’s schedule, reimbursement policy, and to register for Lobby Day, click here. You can also read NYSAR’s Lobby Day FAQ sheet.

Expected further delay for State Budget
Governor Kathy Hochul indicated she may issue a second budget extender as the initial budget extension deadline of April 10 approaches. The original budget deadline was April 1. Budget negotiations remain ongoing between the governor and majority leaders of the State Senate and Assembly with little progress being reported. Major issues being negotiated include bail reform, and various housing policy proposals such as good cause eviction, a housing access voucher program, and the governor’s plan to create 800,000 housing units over the next 10 years. Good cause eviction is one of the most controversial proposals being negotiated in the budget – please be sure to tell state lawmakers and Governor Hochul to oppose “good cause” eviction by Taking Action here.

NAR forms Housing Solutions Coalition to address national rent control issues
NAR recently announced the creation of the Housing Solutions Coalition, which NAR is a founding member of. The coalition is comprised of five national trade associations in an effort to address various rent control initiatives across the country. It will serve as a clearinghouse to organize efforts to oppose rent control initiatives, working together on policies and solutions that lead to the creation and preservation of more affordable housing.