Bill Text: NY A06701 | 2011-2012 | General Assembly | Introduced

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Bill Title: Provides that the New York state canal corporation may sell or lease certain canal lands or personal property to governmental entities for less than fair market value in the public interest.

Spectrum: Slight Partisan Bill (Republican 5-2)

Status: (Introduced - Dead) 2012-05-01 - held for consideration in corporations, authorities and commissions [A06701 Detail]

Download: New_York-2011-A06701-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6701
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                    March 25, 2011
                                      ___________
       Introduced by M. of A. TENNEY -- read once and referred to the Committee
         on Corporations, Authorities and Commissions
       AN  ACT  to  amend the public authorities law, in relation to permitting
         the New York state canal corporation to make certain sales and  leases
         of canal lands and personal property to governmental entities for less
         than fair market value
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Section 2897 of the public authorities law  is  amended  by
    2  adding a new subdivision 8 to read as follows:
    3    8. A. NOTWITHSTANDING ANY OTHER PROVISION OF THIS SECTION OR ANY OTHER
    4  LAW, RULE OR REGULATION TO THE CONTRARY, THE NEW YORK STATE CANAL CORPO-
    5  RATION MAY NEGOTIATE, SELL AND ENTER INTO LEASES OF CANAL LANDS AND SELL
    6  OR LEASE PERSONAL PROPERTY TO AND WITH FEDERAL AGENCIES, STATE AGENCIES,
    7  PUBLIC  BENEFIT  CORPORATIONS,  MUNICIPALITIES  OR  ANY  OTHER POLITICAL
    8  SUBDIVISIONS OF THE STATE FOR LESS THAN  FAIR  MARKET  VALUE  WHEN  SUCH
    9  CORPORATION  DETERMINES  THAT SUCH SALE OR LEASE IS IN THE PUBLIC INTER-
   10  EST.
   11    B. IN DETERMINING WHETHER  SUCH  SALE  OR  LEASE  OF  CANAL  LANDS  OR
   12  PERSONAL  PROPERTY  IS  IN THE PUBLIC INTEREST, THE NEW YORK STATE CANAL
   13  CORPORATION SHALL CONSIDER WHETHER THE SALE OR LEASE WILL IMPROVE PUBLIC
   14  ACCESS TO CANAL LANDS AND THE WATERS OF THE CANAL SYSTEM OR OTHER PUBLIC
   15  LANDS.
   16    C. THERE SHALL BE NO REQUIREMENT FOR AN APPRAISAL OF SUCH CANAL  LANDS
   17  OR PERSONAL PROPERTY FOR A SALE OR LEASE.
   18    D.  THE  TERM  FOR  SUCH  LEASES  SHALL NOT EXCEED FORTY YEARS AND ANY
   19  RENEWAL THEREOF SHALL NOT EXCEED AN ADDITIONAL FORTY YEARS.
   20    E. SUCH SALES OR LEASES SHALL NOT BE SUBJECT TO ANY PUBLIC ADVERTISING
   21  REQUIREMENTS.
   22    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD07014-01-1