Subsidizes closing costs for low income current tenants who are purchasing a home

Latest action Feb 10, 2026

Calls for the state to subsidize a portion of closing costs for certain individuals who have been tenants of public housing projects or rent subsidized housing for the previous five years.

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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 A8107, the matching bill in the Assembly.

Amends the Private Housing Finance Law.

Committee

Housing · New York State Assembly

Also referred to Housing, Construction And Community Development · New York State Senate.

Purpose, from the sponsor's memo

To amend the private housing finance law, in relation to subsidizing closing costs for low income tenants who are purchasing a home.

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

Recorded votes

Vote: Committee vote · Housing, Construction And Community Development
Senate Housing, Construction And Community DevelopmentFeb 10, 2026Result: passed
(10) (1) (0) (0)
Vote: Committee vote · Housing, Construction And Community Development
Senate Housing, Construction And Community DevelopmentFeb 3, 2025Result: passed
(10) (1) (0) (0)

Cosponsors

Robert Jackson

Democratic1

Robert Jackson

See the full list on nysenate.gov

The sponsor's argument

Why James Sanders Jr. says this is needed

In New York State, the working poor and low income families seem to stay in the same Socio-economic condition from generation to generation. Also in New York, families in public housing and low income housing tend to find it difficult to transition out of assisted rent subsidy. We must find ways to help incentivize wealth building for the families. A major factor that gets families in the middle-class is home ownership. Homeownership in New York State is a pathway towards wealth accumu- lation. This bill will help incentivize those families into becoming homeowners.

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

Feb 10, 2026
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 7, 2026
Referred to committee
REFERRED TO HOUSING
NY Assembly
Jan 7, 2026
Referred to committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
NY Senate
Apr 30, 2025
Referred to committee
REFERRED TO HOUSING
NY Assembly
Feb 3, 2025
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate

Show full history (1 earlier event)

Jan 23, 2025
Referred to committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
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 Nov 3, 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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