Bill Text: NY S07133 | 2015-2016 | General Assembly | Amended
Bill Title: Relates to extending the authorization for the length of leased lands located at the state university of New York at Purchase.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2016-06-14 - SUBSTITUTED BY A9689A [S07133 Detail]
Download: New_York-2015-S07133-Amended.html
STATE OF NEW YORK ________________________________________________________________________ S. 7133--A A. 9689--A Cal. No. 559 SENATE - ASSEMBLY March 30, 2016 ___________ IN SENATE -- Introduced by Sens. LAVALLE, LATIMER -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee IN ASSEMBLY -- Introduced by M. of A. GLICK, BUCHWALD -- read once and referred to the Committee on Higher Education -- reported and referred to the Committee on Ways and Means -- reported from committee, advanced to a third reading, amended and ordered reprinted, retaining its place on the order of third reading AN ACT to amend chapter 405 of the laws of 2011, relating to authorizing the lease of lands located at the state university of New York at Purchase, in relation to extending the authorization for the length of leased land The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 2 of chapter 405 of the laws of 2011, relating to 2 authorizing the lease of lands located at the state university of New 3 York at Purchase, is amended to read as follows: 4 § 2. The trustees of the state university of New York are hereby 5 authorized to lease without any public bidding a portion of the lands of 6 the state university of New York at Purchase generally described in this 7 act to the Purchase college advancement corporation, a not-for-profit 8 corporation, upon such terms and conditions as the trustees deem advis- 9 able, for an initial term not to exceed [forty] seventy-five years [or10for such time as may be necessary to complete repayment of any debt11related to the projects described in this act, whichever is shorter]. 12 In the event that the real property which is the subject of such lease 13 or contract shall cease to be used for the purposes described in this 14 act, said lease shall immediately terminate and the real property and 15 any improvements thereon shall revert to the state university of New 16 York. Any contract or lease entered into pursuant to this act shall 17 provide that the real property which is the subject of such lease or 18 contract and any improvements thereon shall revert to the state univer- EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14869-02-6S. 7133--A 2 A. 9689--A 1 sity of New York upon the expiration of such lease. The description of 2 the parcels to be leased pursuant to such section are not meant to be 3 legal descriptions, but are intended only to identify the parcels and 4 improvements to be leased for purposes consistent with the mission of 5 the state university of New York at Purchase. 6 § 2. Subdivision (a) of section 13 of chapter 405 of the laws of 2011, 7 relating to authorizing the lease of lands located at the state univer- 8 sity of New York at Purchase, is amended to read as follows: 9 (a) Any contracts or leases entered into by the state university of 10 New York [or] with the Purchase college advancement corporation pursuant 11 to this act shall be subject to approval of the attorney general as to 12 form as well as by the director of the budget and the state comptroller. 13 Any and all proceeds relating to the leases authorized by this act shall 14 be allocated by the board of trustees for Purchase college, state 15 university of New York, in the following manner: seventy-five percent 16 to the student financial aid for students who are eligible to receive a 17 tuition assistance award or supplemental tuition assistance pursuant to 18 section 667 or 667-a of the education law and twenty-five percent to 19 support additional full-time faculty positions. 20 § 3. This act shall take effect immediately.