Weekly Report for March 19, 2021
Register for NYSAR’s 2021 Virtual Lobby Day to be held on April 27
The first 300 members that register will receive a Lobby Day package in the mail from NYSAR. There is no cost to register, but any member or staff that wishes to participate in Lobby Day must register for the meeting. While registering for Lobby Day, members will also be able to register for the RPAC “School for Spies” virtual escape room event with a cost of $50. Anyone wishing to participate in the RPAC event must register before Friday, April 23. For more information and updates including Lobby Day FAQ’s visit the NYSAR Lobby Day page here.
Realtors® continue to meet with NYC Councilmembers on proposed ban on criminal background checks
On March 16, NYSAR’s New York City Issues Working Group Chair Deborah Iemma and Vice-Chair Melissa Gomez, along with NYSAR and Long Island Board of Realtors® staff met with NYC Councilmember Karen Koslowitz of Queens to discuss concerns with a New York City bill (Intro. 2047) that would prohibit building owners and real estate brokers from performing criminal background checks or refusing rental or occupancy based on a prospective tenant’s criminal record. Realtors® also met with NYC Councilmember Steven Levin (Brooklyn), sponsor of the bill earlier this month, as well as with Councilmember Joseph Borelli (Staten Island) to convey serious concerns with the proposal. Meetings with other city lawmakers are ongoing.
State Legislature proposes $8 billion in new taxes as State Budget negotiations begin
This week, the State Senate and Assembly adopted their respective one-house budget proposals, moving the process to the negotiations stage between the Legislature and Governor Cuomo. An on-time budget must be passed before April 1. Both houses of the state legislature have proposed budgets that include roughly $8 billion in new and increased taxes on businesses and wealthy New Yorkers. Some of those proposals include permanent graduated increases in the personal income tax rates on the state’s highest earners, an additional 1 percent tax on capital gains for those earning more than $1 million, applying the mortgage recording tax to any mezzanine debt or preferred equity investments, and an increase in the estate tax. The Senate also included language in its budget to decouple from the federal opportunity zones program, which the Assembly did not include. Additionally, the proposed pied-a-terre property tax on second 凯发官网网址多少homes in New York City valued at over $5 million was included in the Assembly’s budget, however excluded in the Senate’s budget. Read more here.