S 4309: Authorizes labor unions to work with the city of New York to finance the construction of affordable housing for its members.

  
  STATE OF NEW YORK ________________________________________________________________________ 4309 2025-2026 Regular Sessions  IN SENATE February 4, 2025 ___________ Introduced by Sen. PARKER -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend the private housing finance law, in relation to labor union financed housing The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The private housing finance law is amended by adding a new 2 section 1154 to read as follows: 3 § 1154. Partnership with labor unions. 1. Notwithstanding any other 4 provision of law to the contrary, the city of New York may enter into a 5 cooperative partnership with any collective bargaining unit that repres- 6 ents employees of such city to finance the construction of affordable 7 housing for the members of such collective bargaining unit. 8 2. Any financing for the construction of affordable housing pursuant 9 to this section shall consist of units that are exclusively occupied by 10 employees of the city of New York. For purposes of this subdivision, a 11 unit shall be deemed occupied by an employee of the city if at least one 12 person residing in such unit is an employee of the city, such employee 13 actually resides in the unit for more than fifty percent of the year, 14 and the combined income of all members residing in the unit is less than 15 one hundred twenty-five percent of the area median income. 16 3. A lease or rental agreement of any unit created pursuant to this 17 section shall not be extended or renewed to any person if the criteria 18 established in subdivision two of this section are no longer satisfied. 19 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08303-01-5