New York Legislation

Proposed Licensing Legislation Could Impact the NY Housing Market

By |2021-04-28T18:47:37-05:00April 28th, 2021|Advocacy, Featured|0 Comments

Current home flippers infuse the housing market with quality, affordable inventory. Proposed legislation in New York could make it harder for real estate investors to finance real estate renovation projects, which could further limit the supply of affordable housing inventory in the state, according to an analysis of home flipping data from the last two [...]

By |2021-04-28T18:47:37-05:00April 28th, 2021|Advocacy, Featured|0 Comments

AAPL Opposes New York’s Bill to Require Licensing to Transact Any Commercial Financial Product

By |2022-03-21T14:57:42-05:00January 25th, 2021|Advocacy|0 Comments

NY A1420/S1061 Threatens to Require Licensing for Commercial (Business Purpose) Loans And Other Transactions UPDATE 3/17/2022 3:40PM CT: We received an alert that this bill has been amended as of March 17, 2022 and recommitted to the Banks Committee after inactivity all of 2021. At this time, the only material change to the bill is [...]

By |2022-03-21T14:57:42-05:00January 25th, 2021|Advocacy|0 Comments

What Is the Biggest Legislative Challenge Facing the Private Lending Industry?

By |2020-12-11T15:14:08-06:00December 11th, 2020|Advocacy|0 Comments

This year, AAPL’s Government Relations Committee (GRC) has tackled a wide range of issues on behalf of the private lending community. In New York, Senate Bill S3060E sought to increase the transfer tax on fix-and-flip residential property by 15% to 20%. The bill saw no movement this year, although it is unclear if it was [...]

By |2020-12-11T15:14:08-06:00December 11th, 2020|Advocacy|0 Comments

AAPL Opposes Anti-Flipping Taxes/Special Conveyance Flip Taxes

By |2020-03-16T19:34:25-05:00March 16th, 2020|Advocacy|0 Comments

Instead, promote incentives to increase economic activity and to create the change we all want to see. Most states or other governmental subdivisions that we are aware of impose what is known as a conveyance tax, transfer tax, sales tax or fee on the sale of real property. These taxes are generally very low in [...]

By |2020-03-16T19:34:25-05:00March 16th, 2020|Advocacy|0 Comments

NYC Home Flipping Analysis

By |2020-03-03T20:50:00-06:00March 3rd, 2020|Advocacy, Market Trends|0 Comments

Legislation aimed at deterring “property speculation and flipping in vulnerable neighborhoods” in New York City begs the question: Just how prevalent and harmful is home flipping in the five boroughs that would be impacted by the policy change? An Auction.com analysis of public record data from ATTOM Data Solutions shows home flipping in the five [...]

By |2020-03-03T20:50:00-06:00March 3rd, 2020|Advocacy, Market Trends|0 Comments

New York Wants to Kill Your Deal

By |2019-12-18T19:12:56-06:00December 18th, 2019|Advocacy|0 Comments

Senate Bill S3060E introduced in the New York state legislature would dramatically increase the transfer tax on fix-and-flip residential property. The New York state legislature is trying to pass a law to dramatically increase the transfer tax on certain family properties sold within two years of original acquisition in New York City. (Note: For certain [...]

By |2019-12-18T19:12:56-06:00December 18th, 2019|Advocacy|0 Comments

AAPL Opposes NY Senate Bill’s 20% Tax on Certain Real Property Transfers

By |2020-02-11T17:27:56-06:00August 2nd, 2019|Advocacy|0 Comments

If passed, New York State SB S3060E will impose a 15-20% conveyance tax on 1-5 separate residential property units located in certain areas of New York City, if transferred within two years of the prior transfer of such property. Sign our opposition petition The bill’s stated purpose is to deter property speculation and flipping in [...]

By |2020-02-11T17:27:56-06:00August 2nd, 2019|Advocacy|0 Comments

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