Establishes the New York state first home grant program

Latest action Feb 10, 2026

Establishes the New York state first home grant program; directs the commissioner of homes and community renewal, in consultation with the state comptroller, to implement such program; provides assistance on behalf of a first time home buyer qualified for such program; and for costs in connection with the acquisition, involving an eligible mortgage loan, of an eligible home, including downpayment costs, closing costs, and costs to reduce the rates of interest on eligible mortgage loans; subsidies to make shared equity homes affordable to home buyers by discounting the price for which the home will be sold and to preserve the affordability of the home for subsequent home buyers; and pre-occupancy home modifications required to accommodate qualified home buyers or members of their household with disabilities; excludes the amount of any grant to any first time home buyer awarded or any federal first time home buyer grant program from taxable income for the purpose of calculating New York adjusted gross income.

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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 A787, 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.

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 DevelopmentMar 10, 2025Result: passed
(11) (0) (0) (0)

Cosponsors

Angelo Santabarbara, Christopher Eachus and 9 more on Agora

Democratic10
Republican1

See the full list on nysenate.gov

The sponsor's argument

Why Jeremy Cooney says this is needed

Leaders at all levels of government across the country are recognizing both the need for increased housing stock and the need to provide finan- cial support for first time homebuyers. As the national focus rightfully turns its attention to alleviating the housing crisis, New York must stand ready to complement efforts at the federal level to make the dream of owning a home a reality for all New Yorkers. One of the best ways we can accomplish this is through homeownership, a lasting investment that allows families to set the next generation up for future success. This is only becoming more apparent with each pass- ing year. Over the past three decades, the average wealth gap between homeowners and renters increased more than 250 percent, a stark reminder of the opportunities granted to homeowners, but also of the disadvan- tages faced by renters who do not have the resources to buy a home. This bill, known as the Home Ownership Market Expansion Act, or HOME Act, would create a first time home buyer grant program. This program would complement federal efforts by providing an additional $10,000 for New Yorkers to assist with costs for first time homeowners. It's our responsibility to take action on all levels of government to help our communities achieve the American dream and New York has a unique oppor- tunity to lead the way.

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
Mar 10, 2025
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 23, 2025
Referred to committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
NY Senate

Show full history (1 earlier event)

Jan 8, 2025
Referred to committee
REFERRED TO HOUSING
NY Assembly

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 1, 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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