January 2023

Weekly Report for January 27, 2023

Attend NYSAR’s MWBM Legislative Policy Forum with Guest Speaker: David Lombardo, host of The Capitol Pressroom
This year’s Legislative Policy Forum at NYSAR’s Mid-Winter Business Meetings will be held on February 8 at 9 a.m. in King Street Rooms 4-8 and will feature guest speaker David Lombardo, host of WCNY’s The Capitol Pressroom. David is an experienced journalist in state politics and previously served as Capitol reporter for the Albany Times Union. NYSAR Director of Government Affairs Mike Kelly will provide an update and analysis of state legislative issues facing REALTORS^® in the upcoming legislative session.

Mayor Adams delivers State of the City Address – New investment in tenant protections and creating more housing
In his State of the City speech Thursday, NYC Mayor Eric Adams cited more than $22 million his administration is committing to tenant protection programs. Mayor Adams said the city is planning to boost enforcement against landlords who try to push out tenants or discriminate against renters using housing vouchers, including the use of paid testers posing as prospective tenants. Adams also cited a series of initiatives to boost housing production, including a plan to rezone Midtown Manhattan for residential growth, building on the Mayor’s goal of creating 500,000 new homes across the city. Read more here.

City of Albany considers short-term rental registry
The City of Albany is the latest municipality to consider legislation regulating short-term rentals, which would require owners to register their properties and pay a registration fee. A bill has not yet been introduced before the Albany Common Council. State Senator Michelle Hinchey recently introduced legislation that would track and regulate short-term rentals statewide. Read more here.

Weekly Report for January 20, 2023

NYSAR Mid-Winter Business Meetings – Virtual Schedule for NYSAR Legislative Working Groups
NYSAR’s Mid-Winter Business Meetings are scheduled to be a hybrid event with virtual meetings being held via Zoom from January 23-26, and in-person meetings to be held February 5-9 at the Crowne Plaza, Desmond Hotel in Latham, NY. For a full list of virtual meetings and to register for the NYSAR Mid-Winter Business Meetings, click here. NYSAR’s Legislative Working Group meeting schedule:

Monday, January 23

11:00 a.m. – 12:00 p.m. – Commercial Issues Working Group
1:00 p.m. – 2:00 p.m. – NYC Issues Working Group
3:30 p.m. – 4:30 p.m. – Co-op Issues Working Group

State Senate holds hearing on Climate Action Council recommendations – Learn more about the potential costs to homeowners at NYelectrificationfacts.com
On January 19, the State Senate held a hearing to examine possible legislative and budgetary actions that would be necessary to implement recommendations from the state Climate Action Council Final Scoping Plan, which includes a ban on the use of natural gas, propane and oil in new construction homes by 2025, home heating systems in existing homes beginning 2030, and home appliances beginning 2035. Governor Hochul announced support for these recommendations in her State of the State address on January 10. While NYSAR supports a transition to renewable energy, there remains serious concerns over the cost and fiscal impact on current and future homeowners to comply with such proposed mandates. Estimated up-front costs to retrofit a home to be all-electric range from $12,000 – $50,000 – Learn more about these proposals and sign up to receive updates by going to our website: www.NYelectrificationfacts.com.

Property tax levy growth capped at 2 percent
Property tax levy growth for school districts and cities will be capped at 2 percent for fiscal year beginning July 1, 2023, according to data released by State Comptroller Thomas DiNapoli. The inflation factor was calculated at 8 percent. Read more here.

Weekly Report for January 13, 2023

Governor Hochul delivers State of the State Address – Focuses on housing
On January 10, Governor Kathy Hochul delivered her 2023 State of the State address providing an outline of the governor’s priorities for the coming year. Much of the focus was on housing initiatives, including a goal of creating 800,000 new homes over the next decade through new and expanded tax incentives, rezoning of certain areas, and expanding eligibility for commercial buildings to convert spaces to residential development. The governor also announced support to require all new homes to be constructed all electric by 2025 for smaller buildings and 2028 for larger buildings and prohibit the sale of any new fossil fuel heating equipment and appliances by 2030. Details on many the governor’s proposals remain yet to be seen until the release of her Executive Budget proposal which is expected in the coming weeks.

NYSAR has prepared a summary (click here for summary) highlighting the governor’s proposals related to housing. The State of the State address will serve as a roadmap for state lawmakers as they begin to draft and negotiate the state budget, which is due by April 1, 2023. A full version of the governor’s State of the State book can be found here.

End-of-year 2022 Legislative Action: New flood and mold disclosure laws
On December 16, Governor Hochul signed into law a bill that will amend the Property Condition Disclosure Statement to add a question of home sellers regarding indoor mold history in the residence. The law will go into effect on Wednesday, June 14, 2023. View the sponsor’s memo and bill text here.

On December 23, Governor Hochul signed a bill into law that will require all residential leases to provide notice of flood history on the property and current flood risk of the premises. The residential lease must also include a proscribed notice to tenants regarding the availability of flood insurance through FEMA. The law will go into effect on Wednesday, June 21, 2023. View the sponsor’s memo and bill text here.

On December 23, Governor Hochul vetoed a bill that sought to eliminate current state law that provides a property tax break to coop and condo owners by lowering their home’s assessment. In her veto message, Governor Hochul stated that many first-time homebuyers rely on the affordability of condos and coops, and approval of the bill could lead to fewer units of housing being built at a time when New York is facing a housing crisis. Read more here.

Weekly Report for January 6, 2023

NYSAR launches public awareness campaign on state climate action proposals – New Yorkers deserve to get the facts on costs
NYSAR supports a transition to renewable energy, however, there are concerns regarding recommendations approved by the state’s Climate Action Council on December 19, which include proposals to aggressively phase out the use of natural gas, propane and oil in New York homes and businesses. Many of these recommendations will be considered by the State Legislature and/or go through the state’s regulatory process. To learn more about these proposals and their potential costs to homeowners, and to sign up to receive updates, go to our website: https://nyelectrificationfacts.com/.

New Assembly Housing Committee Chair announced
Democratic Assemblymember Linda Rosenthal (Manhattan) has been appointed chair of the Assembly Committee on Housing, replacing Steven Cymbrowitz who lost his election to Republican Michael Novakhov in November. State Senator Brian Kavanagh (D-Manhattan) will remain Housing chair in the State Senate.

As legislative session opens, housing remains top issue
The New York State 2023 legislative session has officially started, and lawmakers are expected to tackle issues ranging from a crisis in affordable housing to improving public safety. Senate Majority Leader Andrea Stewart-Cousins said her focus will be on affordable housing, noting that New York needs a new “transformative housing policy” as the cost of living continues to surpass average income. Speaker Carl Heastie has made “affordability” the centerpiece of his conference’s message for this session, specifically addressing housing affordability. Governor Hochul is expected to lay out her housing plan in her State of the State address on January 10 at 1 p.m. and can be viewed here.