Sets standards for advertising deeply affordable housing in New York.

This bill amends the general business law to establish standards for advertising deeply affordable housing. It defines "deeply affordable" as affordable to a very low-income family, as per 24 CFR 5.603. The bill mandates that any advertisement of housing units must clearly state the percentage or number of deeply affordable units versus market-rate units. It also requires public information about deeply affordable housing to adhere to these standards. The provisions do not affect eligibility for tax credits, grants, or other incentives for affordability programs with different definitions.

Sets standards for advertising deeply affordable housing in New York.

This bill amends the general business law to establish standards for advertising deeply affordable housing. It defines "deeply affordable" as affordable to a very low-income family, as per 24 CFR 5.603. The bill mandates that any advertisement of housing units must clearly state the percentage or number of deeply affordable units versus market-rate units. It also requires public information about deeply affordable housing to adhere to these standards. The provisions do not affect eligibility for tax credits, grants, or other incentives for affordability programs with different definitions.