Bill Text: NY S06899 | 2011-2012 | General Assembly | Introduced


Bill Title: Increases, from $16,280,000,000 to $17,280,000,000, the bonding authorization granted to the New York state housing finance agency.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2012-08-17 - SIGNED CHAP.419 [S06899 Detail]

Download: New_York-2011-S06899-Introduced.html
                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         6899
                                   I N  S E N A T E
                                     April 9, 2012
                                      ___________
       Introduced  by  Sen.  YOUNG  -- (at request of the Division of Housing &
         Community Renewal) -- read twice and ordered printed, and when printed
         to be committed to the Committee on Housing, Construction and Communi-
         ty Development
       AN ACT to amend the private housing finance  law,  in  relation  to  the
         powers  of  the  new  York state housing finance agency relating to an
         increase in bond and note authorization
         THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (c) of subdivision 1 of section 47 of the private
    2  housing  finance  law, as amended by chapter 100 of the laws of 2011, is
    3  amended to read as follows:
    4    (c) The agency shall not  issue  bonds  and  notes  other  than  state
    5  university  construction  bonds and state university construction notes,
    6  hospital and nursing home project bonds and hospital  and  nursing  home
    7  project  notes,  health  facilities  bonds  and health facilities notes,
    8  youth facilities project  bonds  and  youth  facilities  project  notes,
    9  community mental health services and mental retardation services project
   10  bonds  and  community  mental  health  services  and  mental retardation
   11  services project notes, community senior citizens services project notes
   12  or community senior citizens services project bonds and  mental  hygiene
   13  improvement  bonds  and  mental  hygiene improvement notes and bonds and
   14  notes for the housing program for any of its corporate  purposes  in  an
   15  aggregate  principal  amount  exceeding  [sixteen] SEVENTEEN billion two
   16  hundred eighty million dollars, excluding  bonds  and  notes  issued  to
   17  refund outstanding bonds and notes.
   18    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD14296-02-2
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