S T A T E O F N E W Y O R K ________________________________________________________________________ 6885 I N S E N A T E March 25, 2014 ___________ Introduced by Sen. YOUNG -- read twice and ordered printed, and when printed to be committed to the Committee on Housing, Construction and Community Development AN ACT to amend chapter 777 of the laws of 1986 amending the private housing finance law relating to small loans to owners of multiple dwellings to remove substandard or insanitary conditions, in relation to the effectiveness thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: 1 Section 1. Section 6 of chapter 777 of the laws of 1986 amending the 2 private housing finance law relating to small loans to owners of multi- 3 ple dwellings to remove substandard or insanitary conditions, as amended 4 by chapter 137 of the laws of 2010, is amended to read as follows: 5 S 6. This act shall take effect immediately; provided that the 6 provisions of sections three, four and five of this act shall remain in 7 full force and effect until and including June 30, [2014] 2018. 8 S 2. This act shall take effect immediately; provided, however, that 9 if this act shall have become a law after June 30, 2014, it shall take 10 effect immediately and shall be deemed to have been in full force and 11 effect on and after June 30, 2014. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14527-01-4