Peconic Bay Region Community Housing Act
- Voters in four East End towns will be asked to vote on a proposition to fund affordable housing initiatives in their communities. The Peconic Bay Region Community Housing Act was sponsored by East End Assemb. Fred Thiele (D-Sag Harbor) and Sen. Anthony Palumbo (R-New Suffolk) and signed into law by Gov. Kathy Hochul. A similar bill passed both houses in 2019 but was vetoed by former Gov. Andrew Cuomo, who cited its impact on taxes.
- The bill is being voted on separately by voters in Southampton, East Hampton, Southold and Shelter Island towns. The measure would levy a half-percent tax on most real estate transfers in each town where voters approve it, creating a separate fund for each municipality to use for programs they establish under the law. The legislation mirrors and would supplement the existing Community Preservation Fund, a 2% tax on real estate transfers used for preservation and water quality initiatives. It also increases exemptions of the tax for those buying at the lower end of the market. In Riverhead, the town board opted to not place the measure on the ballot.