Enacts the "End Hedge Fund Control of New York Homes Act"

Latest action Mar 24, 2026

Imposes an excise tax on the failure of certain hedge funds owning excess single-family residences to dispose of such residences; establishes the housing down payment trust fund to provide funds to state housing finance agencies to establish new or supplement existing programs that provide down payment assistance to families purchasing homes within the state.

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Where it stands

Out of committee and scheduled for a vote by the full chamber.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A1818, the matching bill in the Assembly.

Amends the Tax Law.

Committee

Investigations And Government Operations · New York State Senate

Also referred to Ways and Means · New York State Assembly.

Purpose, from the sponsor's memo

The purpose of the "End Hedge Fund Control of New York Homes Act" is to prohibit large hedge funds from buying up and swaths of homes across New York state.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Committee vote · Investigations And Government Operations
Senate Investigations And Government OperationsMar 24, 2026Result: passed
(5) (2) (0) (0)

Cosponsors

Anna Kelles, Grace Lee and 1 more on Agora

Democratic3

See the full list on nysenate.gov

The sponsor's argument

Why Liz Krueger says this is needed

Across the nation and in New York state, there has been a rise in private equity buying up single-family housing stock. These entities are then able to set higher rents. According to the Urban Institute, during the first three months of 2023, hedge funds purchased 27% of single-family homes for sale in the United States 1. This bill, modeled off of federal legislation, will establish fines for large financial entities such a a hedge fund when they purchase or fail to dispose of a single-family home. Revenue raised will be deposited into a housing down payment trust fund. RACIAL JUSTICE IMPACT: These predatory practices disproportionately impact historically redlined communities. A US House of Representatives Financial Services Committee report found that hedge funds targeted homes in neighborhoods with large Black populations and 30% more single mothers than the national average. GENDER JUSTICE IMPACT: TBD.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

Mar 24, 2026
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 7, 2026
Referred to committee
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
NY Senate
Jan 7, 2026
Referred to committee
REFERRED TO WAYS AND MEANS
NY Assembly
Jan 14, 2025
Referred to committee
REFERRED TO WAYS AND MEANS
NY Assembly
Jan 10, 2025
Referred to committee
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 31, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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