March 2021

Weekly Report for March 26, 2021

NYSAR opposes statewide and local good cause eviction proposals

On Wednesday, NYSAR issued a statement in opposition to efforts to include “good cause” or “no cause” eviction legislation in this year’s state budget. Additionally, Albany Mayor Kathy Sheehan recently announced a plan to introduce a local good cause eviction bill (legislation has not yet been formally introduced). These proposals would drastically limit the grounds in which a landlord may evict a tenant and would imposes restrictions on annual rent increases a landlord could charge. NYSAR continues to meet with state lawmakers to express our concerns, most recently meeting with Senator Pete Harckham (Westchester) this week, and will engage, along with Greater Capital REALTORS®, Albany Common Council members on its local bill. Read NYSAR’s full statement here.

State Budget is due April 1 – tax increases being negotiated
The state budget should address relief for renters and landlords, help spur infrastructure projects meant to address climate change and changes to the state’s nursing home regulations, Governor Cuomo said on Wednesday. State lawmakers say they are also close to an agreement to legalize recreational marijuana. New York has received $12.5 billion in federal aid to offset pandemic related revenue losses, however, state lawmakers continue to push for new and higher taxes on the wealthy. New York business groups and Republican Congressmembers issued letters this week urging the State Legislature to eliminate these tax proposals in the final budget. Passage of a final budget is due April 1.

Register for NYSAR’s 2021 Virtual Lobby Day to be held on April 27
The first 300 members that register will receive a Lobby Day package in the mail from NYSAR. There is no cost to register, but any member or staff that wishes to participate in Lobby Day must register for the meeting. While registering for Lobby Day, members will also be able to register for the RPAC “School for Spies” virtual escape room event with a cost of $50. Anyone wishing to participate in the RPAC event must register before Friday, April 23. For more information and updates including Lobby Day FAQ’s visit the NYSAR Lobby Day page here.

Weekly Report for March 19, 2021

Realtors® continue to meet with NYC Councilmembers on proposed ban on criminal background checks
On March 16, NYSAR’s New York City Issues Working Group Chair Deborah Iemma and Vice-Chair Melissa Gomez, along with NYSAR and Long Island Board of Realtors® staff met with NYC Councilmember Karen Koslowitz of Queens to discuss concerns with a New York City bill (Intro. 2047) that would prohibit building owners and real estate brokers from performing criminal background checks or refusing rental or occupancy based on a prospective tenant’s criminal record. Realtors® also met with NYC Councilmember Steven Levin (Brooklyn), sponsor of the bill earlier this month, as well as with Councilmember Joseph Borelli (Staten Island) to convey serious concerns with the proposal. Meetings with other city lawmakers are ongoing.

State Legislature proposes $8 billion in new taxes as State Budget negotiations begin
This week, the State Senate and Assembly adopted their respective one-house budget proposals, moving the process to the negotiations stage between the Legislature and Governor Cuomo. An on-time budget must be passed before April 1. Both houses of the state legislature have proposed budgets that include roughly $8 billion in new and increased taxes on businesses and wealthy New Yorkers. Some of those proposals include permanent graduated increases in the personal income tax rates on the state’s highest earners, an additional 1 percent tax on capital gains for those earning more than $1 million, applying the mortgage recording tax to any mezzanine debt or preferred equity investments, and an increase in the estate tax. The Senate also included language in its budget to decouple from the federal opportunity zones program, which the Assembly did not include. Additionally, the proposed pied-a-terre property tax on second homes in New York City valued at over $5 million was included in the Assembly’s budget, however excluded in the Senate’s budget. Read more here.

Weekly Report for March 12, 2021

Governor Cuomo signs bill extending eviction moratorium for small businesses
On March 9, Gov. Cuomo signed legislation (S.471-A/A.3207) establishing eviction and foreclosure protections for small businesses. The new law will initially apply to small businesses with under 50 employees that demonstrate a financial hardship, as well as small businesses and landlords with 10 or less units. The Governor and Legislature also came to an agreement to introduce and pass legislation that expands these protections to small businesses with 100 or fewer employees, and to any business with 500 or fewer employees that was closed to in-person operations by executive order or department of health directive for two or more weeks between May 15, 2020 and May 1, 2021. Read more here.

President Biden signs latest Covid relief package
On March 10, Congress passed a $1.9 trillion coronavirus relief package known as the “American Rescue Plan of 2021.” President Biden signed the bill on March 11, 2021. The package includes several provisions that impact the real estate industry, including rental assistance, small business loans, state and local funding, extended unemployment benefits, and new money for housing counseling and a housing assistance fund. Funds will be available for New York to assist landlord and tenant rent relief. The details of how those funds will be distributed are part of the ongoing NYS Budget negotiations. Read NAR’s comprehensive write-up of the package.

Weekly Report for March 5, 2021

Register now for NYSAR’s 2021 Virtual Lobby Day to be held on April 27
The first 300 members that register will receive a Lobby Day package in the mail from NYSAR. Lobby Day registration will be similar to registering for the NYSAR business meetings, through the member portal at www.nysar.com. While registering for Lobby Day, members will also be able to register for the RPAC “School for Spies” virtual escape room event with a cost of $50. Anyone wishing to participate in the RPAC event must register before Friday, April 23. Contact NYSAR’s Government Affairs Department or your local board or association for more information.

NYSAR-supported coop transparency bill introduced in Assembly
This week, Assemblymember Charles Lavine (Chair of the Assembly Judiciary Committee) introduced NYSAR-supported legislation that would create the Fairness in Cooperative Homeownership Act (A.5856/S.2846). This bill would establish reasonable timelines for coop boards to respond to prospective home purchasers throughout the application and review process in order to combat illegal discrimination. On Friday, NYSAR staff met with Assemblymember Lavine’s office to encourage the inclusion of this bill in an Assembly fair housing package should they take one up this year.

Rent relief bill moves through Senate Housing Committee; may become part of budget negotiations
State lawmakers continue to work on passage of legislation to create new guidelines for the distribution of $1.3 billion in rent relief approved by Congress in December and an estimated $1.5 billion expected from the COVID relief package currently being debated in Congress. Under the state rent relief bill, the program would cover up to a year of rent and utility arrears and allow for an additional three months of each if funds are available once resources have been distributed to initial applicants. Landlords would be able to apply on behalf of their tenants, and assistance would go directly to them. The bill passed through the Senate Housing Committee this week and has not yet moved in the Assembly. Enactment of the program could be incorporated in the budget, however, which is due April 1, 2021. Read more here.

Legislature poised to remove Gov. Cuomo’s pandemic emergency powers
Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie are expected on Friday to pass legislation weakening the emergency powers granted to Gov. Cuomo last year. The governor would no longer have the ability to issue new legally binding directives, however the legislation would leave existing mandates in place for an additional month. Any additional extensions or modification of existing directives would need approval by the Legislature. The Legislature would also have the authority to undo the current state of emergency and would be able to repeal any executive order. The governor has not signaled whether he will sign the bill. Read more here.