Authorizes cities and towns, except a city with a population of one million or more, to establish community housing funds and impose a real estate.

New York S00572 allows cities and towns, excluding those with a population of one million or more, to establish community housing funds. These funds can receive revenues from a real estate transfer tax imposed by the cities and towns. The tax applies to the transfer of real property interests, with certain exceptions. The funds can be used for financial assistance to first-time homebuyers, production of community housing, and housing counseling services. The bill also outlines provisions for tax credits, exemptions, and the management of the funds.

Authorizes cities and towns, except a city with a population of one million or more, to establish community housing funds and impose a real estate.

New York S00572 allows cities and towns, excluding those with a population of one million or more, to establish community housing funds. These funds can receive revenues from a real estate transfer tax imposed by the cities and towns. The tax applies to the transfer of real property interests, with certain exceptions. The funds can be used for financial assistance to first-time homebuyers, production of community housing, and housing counseling services. The bill also outlines provisions for tax credits, exemptions, and the management of the funds.