Legislative Update – January
Gov. Cuomo says NY will expand COVID rent relief program
After New York State distributed just $40 million of $100 million in federal CARES Act funds intended for struggling, low-income tenants, Governor Cuomo announced on December 3 that the state would rework the program so that more renters would be eligible for assistance. More details will be released in the coming days according to the state office of Homes and Community Renewal. Read more here.
NYSAR joins coalition in opposition to pied-a-terre tax proposal
NYSAR recently joined a coalition of organizations and advocate groups to oppose a new tax proposal on non-primary residences valued at over $5 million in New York City. A public campaign has been launched to advance these efforts – To learn more and contact your state lawmaker asking them to oppose the legislation, visit: NYC Homeowners Coalition.
NYS Senate Democrats Secure 43 Seat Supermajority
Senate Majority Leader Andrea Stewart-Cousins announced that Democrats have secured a 43-member supermajority with the victories of Michelle Hinchey in the upper Hudson Valley and Pete Harckham in Westchester. Democratic Sen. Jen Metzger conceded her race to Republican Mike Martucci. John Mannion bested Angi Renna in a Central NY district.
Albany County Legislature unanimously adopts McCoy’s 2021 county budget
The Albany County Legislature unanimously adopted the county’s spending plan for the upcoming fiscal year. In 2021, the Legislature is adding two social worker positions to the Department of Mental Health in order to further its efforts to create the Albany County Crisis Officials Responding and Diverting (ACCORD) program to change the way dispatch services are delivered in instances of non-violent calls for assistance. The ACCORD program is the product of a partnership between the Legislature, County Executive, Sheriff’s Office, and Department of Mental Health. The two positions represent an investment of $170,000 into the program.
In addition, $100,000 has been allocated to the County’s Economic Development budget to expand efforts by the Legislature’s COVID-19 Economic Recovery Task Force to provide small business assistance. The Legislature recently authorized $300,000 for small business grants, which will be administered by the Albany County Alliance Local Development Corporation. The grants are designed to help small businesses recover from the pandemic.
NAR Urges Treasury and FHFA to Delay Actions on GSEs
NAR sent a letter to the Treasury and Federal Housing Finance Agency asking them to refrain from any rushed actions to end the conservatorship of Fannie Mae and Freddie Mac. These two entities currently finance most single-family mortgages and are critical not just to supporting housing during the pandemic, but also for the future of homeownership. A rushed exit from conservatorship could jeopardize reforms that have been made to date and reforms that remain undone.
NAR’s Letter to the Treasury and FHFA
President-Elect Biden Picks Congresswoman Marcia Fudge to Serve as HUD Secretary
President-Elect Joe Biden announced that he has selected Ohio Congresswoman Marcia Fudge to serve as the Secretary of Housing and Urban Development. Fudge has represented Ohio’s 11th Congressional District since 2008. The congresswoman serves on several committees, including the House Administration, Agriculture, and Education and Labor committees. She will face confirmation by the United States Senate.
