New York State legislators are in negotiations over the state budget, which was due on April 1, 2024 but have stretched on for more than a week past the deadline due to differences on certain legislative topics. Specifically on affordable housing, Governor Kathy Hochul is proposing an ambitious plan that aims to benefit developers, tenants, labor, and localities. The details of the affordable housing plan are likely to include some type of affordable housing tax credit and an expansion of tenant protections in line with the legislation known as “good cause.” That bill, which would protect tenants from unreasonable rent increases and require landlords to offer lease renewals, has been fiercely opposed by landlords.

https://www.nytimes.com/2024/04/08/nyregion/late-budget-state-eclipse.html