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