January 2024

Weekly Report for January 26, 2024

Attend NYSAR’s Legislative Policy Forum at the Mid-Winter Business Meetings: Feb. 6 at 9 a.m.
All REALTORS^® attending the NYSAR Mid-Winter Business Meetings are invited to attend the Legislative Policy Forum on Tuesday, February 6 in the Fort Orange Ballroom at 9 a.m. This year’s guest speaker will be Senator Jeremy Cooney (Rochester) who is the prime-sponsor of NYSAR-supported legislation to establish a New York first-time homebuyer savings account program. Additionally, NAR Senior Political Representative Densay Sengsoulavong and NYSAR Director of Government Affairs Mike Kelly will be providing federal and state legislative updates.

Sen. Ryan proposes upstate housing plan
State Senator Sean Ryan (Buffalo) is proposing a housing plan that would provide state subsidies to incentivize construction of starter homes for low- and moderate-income households in upstate cities and would create a grant program for landlords to improve affordable rental units. Sen. Ryan’s proposal would also create a statewide program to fund improvements to the insulation of older homes and direct state and federal emergency funding to assist New Yorkers being evicted. Read more here.

New House maps in New York stall as deadline for June primaries nears
Following a December state court decision requiring the state’s Independent Redistricting Commission to produce new draft congressional lines by February 28, commissioners have yet to schedule any public meetings as the deadline approaches. Once a new draft of congressional lines is completed by the commissioners, the State Legislature would still need to vote to either approve the lines or, if rejected, draft their own congressional maps. Congressional candidates running in 2024 are due to start collecting signatures from voters by February 28 in the yet-to-be drawn districts. Read more here.

Joint Legislative Budget hearings process begins
This week, the State Senate and Assembly began its joint legislative budget hearing process in Albany which will help guide the legislative one-house budgets set to be released in the coming weeks. Click here for the full budget hearing schedule, which runs through February 14. You can also stream the hearings live here.

Weekly Report for January 19, 2024

NYSAR meets with Senate on telemarketing restrictions bill
This week, NYSAR staff organized a meeting with Senator Kevin Thomas’ office and other organizations negatively impacted by the state’s ban on telemarketing business activities during declared states of emergency. Since the beginning of the pandemic, NYSAR has been focused on resolving the issue, expressing the harm the current law continues to impose on REALTORS^®who are unable to conduct any telemarketing while the state remains in a constant state of emergency due to various declarations concerning gun violence, immigration crisis, etc. NYSAR was successful in its advocacy efforts to get the bill (S.412/A.6680) passed in the Assembly last year with Assemblymember Amy Paulin (Westchester), and will continue to work with Sen. Thomas (Long Island), who carries the bill in the Senate, in efforts to advance the legislation.

NYSAR Legislative Policy Forum Speaker announced
All REALTORS^® attending the NYSAR Mid-Winter Business Meetings are invited to attend the Legislative Policy Forum on Tuesday, February 6 in the Fort Orange Ballroom at 9 a.m. This year’s guest speaker will be Senator Jeremy Cooney (Rochester) who is the prime-sponsor of NYSAR-supported legislation to establish a New York first-time homebuyer savings account program. Sen. Cooney also helped author the New York Green CHIPS Act to help attract new businesses such as Micron to the state and maintains a strong working relationship with his local REALTOR^® members.

Governor Hochul releases $233 billion Executive Budget proposal
On January 16, Governor Kathy Hochul presented her FY 2024-25 Executive Budget proposal, which begins the state budget negotiation process leading up to the April 1, 2024 budget deadline. NYSAR commends Governor Hochul on her stance to hold the line on state taxes by excluding any new tax increases in her budget proposal. The $233 billion Executive Budget proposal is a roughly $6 billion increase over last year’s proposed budget with some of the largest cost factors being Education ($35 billion, including an increase of $921 million), Medicaid funding ($40 billion, including 11% growth at an additional $3 billion) and costs to continue to support migrant sheltering and services (additional $2 billion).

The Governor’s plan to boost housing development in New York includes incentivizing municipalities to opt into the state’s recently created Pro-Housing Community Program certification. In order to receive such certification, municipalities would be required to commit to increasing their housing stock and identifying impediments to housing growth. Only municipalities that receive the Pro-Housing certification would be eligible for certain state funding from a cumulative allotment of up to $650 million.

The Governor did not include any “good cause” eviction provisions in her Executive Budget. Over the next several weeks, the State Legislature will release their versions of a state budget setting a baseline for budget negotiations with an expected final agreement around the April 1, 2024 fiscal deadline. Click here for a summary of real-estate related proposals from the Executive Budget.

Weekly Report for January 12, 2024

Governor Hochul delivers State of the State Address
On January 9, Governor Kathy Hochul delivered her third State of the State Address in Albany. Her speech focused primarily on mental health, public safety, housing and education. With regard to the Governor’s housing plan, much of the policy recommendations in her address are reiterations from her “Housing Compact” proposal which failed to advance in the Legislature last year. The Governor noticeably did not make mention of any “good cause” eviction proposal. Leaders in the State Senate and Assembly have made clear that some form of additional tenant protections like “good cause” eviction will be a priority this year and could be tied to the renewal of the 421-a affordable housing tax abatement program (or similar program) in New York City.

Click here for more details on Governor Hochul’s 2024 State of the State proposals.

Click here to read NYSAR’s statement on the Governor’s State of the State.

Click here for a NYSAR summary of real estate-related issues and proposals from the Governor’s State of the State.

NYSAR’s Mid-Winter Business Meetings Legislative Working Groups virtual meeting schedule
NYSAR’s 2024 Mid-Winter Business Meetings will be held on-site at the Crowne Plaza Albany – The Desmond Hotel from February 4-8, 2024. Some committee and working group meetings will be held virtually the week of January 22. The virtual legislative working group meetings schedule is as follows:

Monday, January 22

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

Tuesday, January 23

Federal Political Coordinator Update – 10 a.m. – 11 a.m.
State Political Coordinator Update – 1 p.m. – 2 p.m.

Links to attend these virtual meetings will be posted to NYSAR Connect.

A full list of all NYSAR’s virtual business meetings can be found here.

New York faces $4.3 billion budget gap
New York State faces a $4.3 billion deficit for the fiscal year that begins April 1, and the gap is expected to grow to over $9 billion in the following year. Governor Hochul will release her Executive Budget proposal next week where she is expected to provide details on measures to close the budget gap, including measures to pay for the increasing costs associated with the care of thousands of asylum seekers who have arrived in New York over the last year. The Governor has insisted she will not raise taxes in the budget this year, however the Legislature has not made that commitment. Read more here.

Weekly Report for January 5, 2024

NYSAR Lobby Day date change – New date: March 27, 2024
NYSAR’s annual Lobby Day in Albany will be held Wednesday, March 27, 2024, in the Empire State Plaza, Meeting Room 6. Registration to attend Lobby Day will open February 8. More details regarding hotel options will be announced in the next couple of weeks. The schedule and talking points will be released in the weeks leading up to Lobby Day.

Monday, January 22

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

Tuesday, January 23

Federal Political Coordinator Update – 10 a.m. – 11 a.m.
State Political Coordinator Update – 1 p.m. – 2 p.m.

Links to attend these virtual meetings will be posted to NYSAR Connect.

A full list of all NYSAR’s virtual business meetings can be found here.

State lawmakers focus on housing at start of 2024 session
The State Legislature returned to Albany Wednesday to begin the 2024 legislative session. Leaders from both houses stated housing affordability will again be a priority this year, focusing on new construction and tenant protections, including “good cause” eviction. Governor Kathy Hochul is scheduled to deliver her third State of the State Address on Tuesday, January 9, which is expected to include details on a revamped housing plan which failed to advance last year. Read more here.