STATE OF NEW YORK
________________________________________________________________________
7107
2025-2026 Regular Sessions
IN ASSEMBLY
March 20, 2025
___________
Introduced by M. of A. BICHOTTE HERMELYN, TAYLOR, GIBBS, KIM -- read
once and referred to the Committee on Housing
AN ACT to amend the private housing finance law, in relation to labor
union financed housing
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The private housing finance law is amended by adding a new
2 section 1154 to read as follows:
3 § 1154. Partnership with labor unions. 1. Notwithstanding any other
4 provision of law to the contrary, the city of New York may enter into a
5 cooperative partnership with any collective bargaining unit that repres-
6 ents employees of such city to finance the construction of affordable
7 housing for the members of such collective bargaining unit.
8 2. Any financing for the construction of affordable housing pursuant
9 to this section shall consist of units that are exclusively occupied by
10 employees of the city of New York. For purposes of this subdivision, a
11 unit shall be deemed occupied by an employee of the city if at least one
12 person residing in such unit is an employee of the city, such employee
13 actually resides in the unit for more than fifty percent of the year,
14 and the combined income of all members residing in the unit is less than
15 one hundred twenty-five percent of the area median income.
16 3. A lease or rental agreement of any unit created pursuant to this
17 section shall not be extended or renewed to any person if the criteria
18 established in subdivision two of this section are no longer satisfied.
19 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08303-01-5
