Bill Text: NY A08819 | 2013-2014 | General Assembly | Introduced
Bill Title: Increases the number of land banks authorized to exist in the state to twenty.
Spectrum: Partisan Bill (Democrat 24-0)
Status: (Passed) 2014-07-22 - signed chap.106 [A08819 Detail]
Download: New_York-2013-A08819-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
8819
I N A S S E M B L Y
February 18, 2014
___________
Introduced by M. of A. MAGNARELLI -- (at request of the Department of
Law) -- read once and referred to the Committee on Local Governments
AN ACT to amend the not-for-profit corporation law, in relation to
increasing the number of land banks authorized to exist in the state
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
1 Section 1. Paragraph (g) of section 1603 of the not-for-profit corpo-
2 ration law, as added by chapter 257 of the laws of 2011, is amended to
3 read as follows:
4 (g) Nothing in this article shall be construed to authorize the exist-
5 ence of more than [ten] TWENTY land banks located in the state at one
6 time, provided further that each foreclosing governmental unit or units
7 proposing to create a land bank shall submit such local law, ordinance
8 or resolution as required by paragraph (a) of this section, to the urban
9 development corporation, for its review and approval. The creation of a
10 land bank shall be conditioned upon approval of the urban development
11 corporation.
12 S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD13702-01-4
