Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Apr 16, 2012 |
referred to local government |
Senate Bill S6953
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Senate Committee Local Government Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2011-S6953 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9753
- Current Committee:
- Senate Local Government
- Law Section:
- General Municipal Law
- Laws Affected:
- Amd ยง882, Gen Muni L
- Versions Introduced in Other Legislative Sessions:
-
2013-2014:
A4405
2015-2016: A3131
2011-S6953 (ACTIVE) - Sponsor Memo
BILL NUMBER:S6953 TITLE OF BILL: An act to amend the general municipal law, in relation to termination of a development agency PURPOSE OR GENERAL IDEA OF BILL: The proposed legislation would modify existing law to give better control of an industrial development agency to the municipality for which the agency was created to benefit. It will also allow agencies to enter into contracts that benefit the municipality only, without regard for the need to generate deals to keep the agency in existence. SUMMARY OF SPECIFIC PROVISIONS: Section 1 - amends Section 882 of the General Municipal Law by adding: and all straight-lease transactions have been terminated, and upon resolution by the municipality for whose benefit the agency was formed. PRIOR LEGISLATIVE HISTORY: New bill. FISCAL IMPLICATIONS: None to the state.
2011-S6953 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6953 I N S E N A T E April 16, 2012 ___________ Introduced by Sen. RANZENHOFER -- read twice and ordered printed, and when printed to be committed to the Committee on Local Government AN ACT to amend the general municipal law, in relation to termination of a development agency THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 882 of the general municipal law, as added by chap- ter 1030 of the laws of 1969, is amended to read as follows: S 882. Termination of the agency. Whenever all of the bonds or notes issued by the agency shall have been redeemed or cancelled, AND ALL STRAIGHT-LEASE TRANSACTIONS HAVE BEEN TERMINATED, AND UPON RESOLUTION BY THE MUNICIPALITY FOR WHOSE BENEFIT THE AGENCY WAS FORMED, the agency shall cease to exist and all rights, titles, and interest and all obli- gations and liabilities thereof vested in or possessed by the agency shall thereupon vest in and be possessed by the municipality. S 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14778-01-2
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