What's happening
This bill imposes a fee on landlords for residential units vacant over three months, funding housing vouchers for homeless individuals.
Why it matters
Creates escalating financial penalties for landlords who keep units vacant. The fee starts at the last legal rent of the unit in the fourth month of vacancy and increases by 50% each additional month, strongly incentivizing landlords to rent out units rather than hold them off the market.
Targets “warehousing” to address housing shortages. By penalizing prolonged vacancies, the bill aims to reduce the practice of keeping residential units empty for speculative or strategic reasons, potentially increasing housing supply and lowering rents in tight markets.
Links penalty revenue directly to housing support for the homeless. All fees collected are earmarked for a dedicated fund, ensuring that money from vacant units is used to provide housing vouchers for people experiencing homelessness, creating a direct policy connection between unused housing and urgent social need.
Includes limited waivers for genuine renovation needs. Landlords can apply for a waiver if they can prove a unit is uninhabitable due to substantial renovations, balancing the policy’s intent with practical realities of property management and maintenance.
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Tax Vacant Apartments
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History
- Referred to housing
Full text
2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
9966
IN ASSEMBLY
March 3, 2020
Introduced by M. of A. L. ROSENTHAL -- read once and referred to the Committee on Housing
AN ACT to amend the real property law and the state finance law, in relation to imposing a fee on landlords who have residential dwelling units which remain vacant for an extended period of time
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. The real property law is amended by adding a new section 238-b to read as follows:
§ 238-b. Warehousing of residential dwelling units. 1. A landlord of a residential dwelling unit which remains vacant for a period greater than three months shall pay a monthly warehousing fee in an amount to be calculated as follows:
a. For the fourth month a residential dwelling unit remains vacant, the fee shall be equal to the last legal rent charged for such unit.
b. For every additional month thereafter that a residential dwelling unit remains vacant, the fee shall be equal to the fee charged for the previous month plus an amount equal to fifty percent.
c. If the legal rent of a residential dwelling unit cannot be determined, the amount used to calculate the fee under this subdivision shall be equal to the market rent for a similarly sized residential dwelling unit in the same location, as determined by the commissioner of housing and community renewal.
2. A landlord may petition the division of housing and community renewal for a waiver of the fee imposed pursuant to subdivision one of this section if such landlord can demonstrate that such residential dwelling unit is vacant due to substantial renovations which render such unit unable to be occupied.
3. The fee imposed pursuant to subdivision one of this section shall be paid to the division of housing and community renewal. Such division shall pay all fees collected each month to the state comptroller who shall deposit such money in the housing voucher assistance fund established pursuant to section ninety-nine-hh of the state finance law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD15236-01-0
A. 9966 2
4. The commissioner of housing and community renewal shall promulgate rules and regulations necessary to carry out the provisions of this section.
§ 2. The state finance law is amended by adding a new section 99-hh to read as follows:
§ 99-hh. Housing voucher assistance fund. 1. There is hereby established in the joint custody of the state comptroller, the commissioner of housing and community renewal and the commissioner of taxation and finance a fund to be known as the housing voucher assistance fund.
2. Such fund shall consist of all moneys appropriated for the purpose of such fund, moneys collected pursuant to section two hundred thirtyeight-b of the real property law and all other moneys transferred to such fund pursuant to law. Any interest earned by the investment of moneys in such fund shall be added to such fund, become a part of such fund, and be used for the purpose of such fund.
3. Monies of the fund shall be expended only by the division of housing and community renewal to provide housing vouchers to homeless individuals.
4. Monies shall be payable from the fund on the audit and warrant of the comptroller on vouchers approved and certified by the commissioner of housing and community renewal.
§ 3. This act shall take effect on the ninetieth day after it shall have become a law. Effective immediately, the addition, amendment and/or repeal of any rule or regulation necessary for the implementation of this act on its effective date are authorized to be made and completed on or before such effective date.
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.