Establishes the New York State social housing development authority as a public benefit corporation to increase the supply of permanently affordable housing in the state through the acquisition of land and renovation or rehabilitation of existing real property, and through the construction of new, permanently affordable housing.
Establishes the "New York public banking act"; authorizes municipal and other local governments to form and control public banks through the ownership of capital stock or other ownership interests, and to loan or grant public funds or lend public credit to such public banks for the public purposes of achieving cost savings, strengthening local economies, supporting community economic development, and addressing infrastructure and housing needs for localities.
Requires that the entire amount of a rental deposit or advance be refundable to the tenant upon the tenant's vacating of the premises except for an amount lawfully retained for non-payment of rent or utilities, damage caused by the tenant, or storage costs; requires landlord to provide an itemized statement of damages and to return the balance of the deposit within 14 days; requires that tenant be given the opportunity to inspect the rental premises prior to signing a lease; allows a grantee or assignee of the leased premises to demand that an escrow account be opened.
Enacts the bucks for boilers act, which creates a program to aid in transition of housing units to electric heat pumps and other high energy efficiency upgrades.