Bill Text: NY S06731 | 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 1-0)

Status: (Introduced - Dead) 2014-06-10 - SUBSTITUTED BY A8819 [S06731 Detail]

Download: New_York-2013-S06731-Introduced.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6731
                                   I N  S E N A T E
                                     March 4, 2014
                                      ___________
       Introduced  by  Sen.  VALESKY -- (at request of the Attorney General) --
         read twice and ordered printed, and when printed to  be  committed  to
         the Committee on Corporations, Authorities and Commissions
       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
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