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    New York State Assembly Housing Committee Chair Keith Wright Proposes Bill to Subsidize Affordable and Senior Housing

    Affordable Housing  •  Citywide
    New York State Assembly Housing Committee Chair Keith Wright. Image credit: The Office of Assembly Member Keith Wright

    New York State Assembly Housing Committee Chair Keith Wright. Image credit: The Office of Assembly Member Keith Wright

    The bill seeks to fill the gap left open by the expiration of 421-a, the decades-old tax exemption program that expired on January 1, 2016.  On March 15, 2016, New York State Assembly Housing Committee Chair Keith Wright, who represents Manhattan, introduced Assembly bill A9537, which would provide for new, taxpayer-funded affordable housing subsidies and job training programs. If enacted, the bill would incentivize the construction of affordable housing and affordable senior housing through subsidies, rather than tax exemptions.

    (read more…)

    Tags : 421-a, affordable housing, Assembly Member Keith Wright, legislation, New York State Assembly, New York State Assembly Housing Committee, RPTL 421-a
    Date:03/31/2016
    Category : New York State Senate
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