Senate bill · S7925 (2025-26)
Establishes a tax rebate program for rent-stabilized housing
New York State Senate
Same as A11694, the matching bill in the Assembly.
Sponsor: Robert Jackson (State Senator, District 31, Democratic/Working Families)
Following needs an Agora account. You will sign in first, then come back to this page.
From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 21, 2026. About our data
Summary
Establishes a tax rebate program for rent-stabilized housing that targets buildings with individually occupied rent-stabilized apartments where the property tax burden significantly exceeds rental income.
Summary from NY Open Legislation. How we handle summaries
Amends the Real Property Tax Law.
Purpose, from the sponsor's memo
To preserve rent-stabilized housing in financially distressed buildings by offering a targeted property tax rebate, contingent on strict eligi- bility and compliance standards, beginning with a pilot in low-income communities.
Filed with the bill. Read it on nysenate.gov (opens in a new tab)
Where it stands
Assigned to a committee for review.
- Introduced
- In committee
- Up for a vote
- Passed one chamber
- Passed
- Enacted
Committee
Housing, Construction And Community Development · New York State Senate
Also referred to Real Property Taxation · New York State Assembly.
Your position on this bill
Choose the position closest to yours. You'll sign in or create an account to save it.
The sponsor's argument
Why Robert Jackson says this is needed
This bill offers targeted, means-tested relief to owners of such build- ings - but only if they are in financial distress, maintain safe living conditions, and continue to serve stabilized tenants. The rebate is not a giveaway; it is a limited, performance-based tax credit designed to prevent abandonment, illegal deregulation, or deterioration of our most affordable housing stock. Unlike broad abatements or subsidies, this proposal requires fiscal transparency, housing code compliance, and ongoing monitoring. Tenants are protected by a requirement that buildings remain eligible for two full years after any rebate is issued. By focusing the pilot on neighborhoods where median income is below 40% of AMI, this bill ensures that the program supports the most vulnerable tenants and the most precarious housing.
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
- Sep 2, 2026
Referred to committee
REFERRED TO REAL PROPERTY TAXATION
NY Assembly
- Jan 7, 2026
Referred to committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
NY Senate
- May 14, 2025
Referred to committee
REFERRED TO HOUSING, CONSTRUCTION AND COMMUNITY DEVELOPMENT
NY Senate
Read the record
- Read on NY Senate (opens in a new tab) The official record on nysenate.gov.