Prohibits the comptroller from using environment, social, and governance criteria as a screening method for selecting companies and funds to invest the state pension fund in.
Increases to $50,000 the cost of the construction of a building, structure or public work, above which a professional engineer, land surveyor or architect must be utilized to plan and supervise the construction thereof.
Creates a homeownership rehabilitation credit; allows a taxpayer to be credited for fifteen percent of the qualified rehabilitation expenses made by such taxpayer with respect to a qualified residence against the tax imposed; defines qualified residence and qualified rehabilitation expenses.
Provides that no school district shall be eligible to receive the full apportionment of state aid to which it is entitled if evidence is found by the state comptroller when an audit is conducted and such audit finds that a district has inappropriate excess of their unexpended surplus funds and such school district did not reduce the school tax levy in a proportion equal to the excess of four percent of the current year school budget.
Extends provisions relating to affordable housing development loans to all municipalities of the state of New York; assists private sector in development of residential housing.
Relates to the purchase of community land mortgages; defines a community land mortgage as a mortgage that is secured by a first lien on a leasehold estate in real property that is improved by a residential structure wherein title to the real property is retained by a not-for-profit housing company or housing development fund company; authorizes the state of New York mortgage agency to purchase community land mortgages from banks within the state; ensures not-for-profit housing remains as affordable housing.
Relates to exemption from taxation of alterations and improvements to multiple dwellings by expanding certain provisions to include cities where the multiple residence law is applicable.
Establishes a system of community improvement grants to be administered by and through neighborhood citizens' participation committees; makes definitions; directs commissioner of the New York state division for housing and community renewal to create the community improvement grant program; provides that municipalities receiving such grants establish citizens' participation committees.
Provides that the current real property tax exemption for persons over 65 may also be extended to those persons who are totally and permanently disabled; requires that municipalities shall provide by local law that such exemptions shall be granted to either those 65 years of age or older or to those who are totally and permanently disabled, or to both categories of persons.