S T A T E O F N E W Y O R K
________________________________________________________________________
7412
2013-2014 Regular Sessions
I N A S S E M B L Y
May 16, 2013
___________
Introduced by M. of A. FARRELL -- read once and referred to the Commit-
tee on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to the powers of
subsidiaries of the Educational Housing Services Inc.; and to amend
chapter 376 of the laws of 1998 amending the public authorities law
relating to the powers of the Educational Housing Services Inc., in
relation to extending the effectiveness thereof
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The undesignated paragraph of paragraph (b) of subdivision
2 of section 1676 of the public authorities law, as amended by chapter
352 of the laws of 2008, is amended to read as follows:
Educational Housing Services Inc., a not-for-profit corporation, for
the acquisition, financing, refinancing, construction, reconstruction,
renovation, development, improvement, expansion, and equipping of hous-
ing for students and/or faculty at institutions of higher education
[throughout the state and up to five] LOCATED WITHIN THE FIVE BOROUGHS
OF THE CITY OF NEW YORK AND WESTCHESTER COUNTY EITHER BY DIRECTLY OR BY
CREATION OF A wholly-owned [and] NOT-FOR-PROFIT SUBSIDIARY CORPORATION
OR controlled corporations [or], limited liability companies OR PARTNER-
SHIPS, that are not subject to federal income taxation (except with
respect to any unrelated business income) [as follows: one such corpo-
ration or limited liability company for the acquisition, financing,
refinancing, construction, reconstruction, renovation, development,
improvement, expansion, and equipping of a dormitory for housing for
students in connection with the city university of New York; one such
corporation or limited liability company for the acquisition, financing,
refinancing, construction, reconstruction, renovation, development,
improvement, expansion, and equipping of a dormitory located at 401 West
130th Street, New York, New York for housing for students and/or faculty
in connection with the city college of New York; one such corporation or
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD10918-01-3
A. 7412 2
limited liability company for the acquisition, financing, refinancing,
construction, reconstruction, renovation, development, improvement,
expansion, and equipping of a dormitory at 55 John Street, New York, New
York for housing for students and/or faculty; one such corporation or
limited liability company for the acquisition, financing, refinancing,
construction, reconstruction, renovation, development, improvement,
expansion, and equipping of a dormitory at 231 East 55th Street, New
York, New York for housing for students and/or faculty; and one such
corporation or limited liability company for the acquisition, financing,
refinancing, construction, reconstruction, renovation, development,
improvement, expansion, and equipping of a dormitory at 1760 3rd Avenue,
New York, New York for housing for students and/or faculty].
S 2. The undesignated paragraph of subdivision 1 of section 1680 of
the public authorities law, as amended by chapter 352 of the laws of
2008, is amended to read as follows:
Educational Housing Services Inc., a not-for-profit corporation, for
the acquisition, financing, refinancing, construction, reconstruction,
renovation, development, improvement, expansion, and equipping of hous-
ing for students and/or faculty at institutions of higher education
[throughout the state and up to five] LOCATED WITHIN THE FIVE BOROUGHS
OF THE CITY OF NEW YORK AND WESTCHESTER COUNTY EITHER DIRECTLY OR BY
CREATION OF A wholly-owned [and] NOT-FOR-PROFIT SUBSIDIARY CORPORATION
OR controlled corporations [or], limited liability companies, OR PART-
NERSHIPS that are not subject to federal income taxation (except with
respect to any unrelated business income) [as follows: one such corpo-
ration or limited liability company for the acquisition, financing,
refinancing, construction, reconstruction, renovation, development,
improvement, expansion, and equipping of a dormitory for housing for
students in connection with the city university of New York; one such
corporation or limited liability company for the acquisition, financing,
refinancing, construction, reconstruction, renovation, development,
improvement, expansion, and equipping of a dormitory located at 401 West
130th Street, New York, New York for housing for students and/or faculty
in connection with the city college of New York; one such corporation or
limited liability company for the acquisition, financing, refinancing,
construction, reconstruction, renovation, development, improvement,
expansion, and equipping of a dormitory at 55 John Street, New York, New
York for housing for students and/or faculty; one such corporation or
limited liability company for the acquisition, financing, refinancing,
construction, reconstruction, renovation, development, improvement,
expansion, and equipping of a dormitory at 231 East 55th Street, New
York, New York for housing for students and/or faculty; and one such
corporation or limited liability company for the acquisition, financing,
refinancing, construction, reconstruction, renovation, development,
improvement, expansion, and equipping of a dormitory at 1760 3rd Avenue,
New York, New York for housing for students and/or faculty].
S 3. Section 3 of chapter 376 of the laws of 1998 shall be and remain
in full force and effect with respect to all projects undertaken pursu-
ant to the authority of such chapter and this act whether by Educational
Housing Services Inc., or its subsidiary.
S 4. Section 5 of chapter 376 of the laws of 1998, amending the public
authorities law relating to the powers of the Educational Housing
Services Inc., as amended by chapter 280 of the laws of 2008, is amended
to read as follows:
S 5. This act shall take effect immediately and shall expire and be
deemed repealed on December 31, [2013] 2018.
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S 5. This act shall take effect immediately, provided, however, that
the amendments to the undesignated paragraph of paragraph (b) of subdi-
vision 2 of section 1676 and the undesignated paragraph of subdivision 1
of section 1680 of the public authorities law made by sections one and
two of this act shall not affect the repeal of such paragraphs and shall
be deemed repealed therewith.