S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7974

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 2, 2015
                               ___________

Introduced  by  M.  of  A.  SEAWRIGHT  --  read once and referred to the
  Committee on Corporations, Authorities and Commissions

AN ACT to amend chapter 899  of  the  laws  of  1984,  relating  to  the
  creation  of  a  public benefit corporation to plan, develop, operate,
  maintain and manage Roosevelt Island, in relation to the management of
  such corporation

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision 15 of section 4 of chapter 899 of the laws of
1984, relating to the creation of a public benefit corporation to  plan,
develop,  operate,  maintain  and manage Roosevelt Island, is amended to
read as follows:
  15.    PROVIDE  FINANCIAL  ASSISTANCE  IN  THE  FORM  OF   GRANTS   TO
NOT-FOR-PROFIT CORPORATIONS OR GOVERNMENTAL AGENCIES THAT PROVIDE DIRECT
SERVICES  TO  THE RESIDENTS OF ROOSEVELT ISLAND, NOT TO EXCEED 1% OF THE
OPERATING BUDGET OF THE CORPORATION, AND UPON THE APPROVAL OF A MAJORITY
OF THE ENTIRE BOARD OF THE CORPORATION.
  16. Do and perform all other acts necessary or convenient to carry out
the foregoing in connection with the SPECIALIZED development, management
or operation of Roosevelt Island.
  S 2. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11372-02-5


              

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 7974--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                              June 2, 2015
                               ___________

Introduced  by  M.  of  A.  SEAWRIGHT  --  read once and referred to the
  Committee on Corporations, Authorities and  Commissions  --  committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

AN  ACT  to  amend  chapter  899  of  the  laws of 1984, relating to the
  creation of a public benefit corporation to  plan,  develop,  operate,
  maintain and manage Roosevelt Island, in relation to the management of
  such corporation; and to amend the public authorities law, in relation
  to the management of the Roosevelt Island operating corporation

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Legislative intent. This act shall authorize the Roosevelt
Island Operating Corporation to distribute public purpose funds to  not-
for-profit community organizations whose purpose is to benefit Roosevelt
Island  residents  by enhancing their quality of life through education,
artistic and cultural enrichment, improved health or better environment.
  S 2. Chapter 899 of the laws of 1984, relating to the  creation  of  a
public  benefit  corporation  to  plan,  develop,  operate, maintain and
manage Roosevelt Island, is amended by adding a new section 4-a to  read
as follows:
  S  4-A.  NOT-FOR-PROFIT  GRANT  DISTRIBUTION.  1.  THE  CORPORATION IS
AUTHORIZED TO PROVIDE FINANCIAL ASSISTANCE IN  THE  FORM  OF  GRANTS  TO
NOT-FOR-PROFIT CORPORATIONS OR GOVERNMENTAL AGENCIES THAT PROVIDE DIRECT
SERVICES OR BENEFITS TO THE RESIDENTS OF ROOSEVELT ISLAND, NOT TO EXCEED
3%  OF THE OPERATING BUDGET OF THE CORPORATION, AND UPON THE APPROVAL OF
A MAJORITY OF THE ENTIRE BOARD OF THE CORPORATION.
  2. ON OR BEFORE MAY 1, 2016, THE CORPORATION SHALL POST  A  REPORT  ON
ITS  WEBSITE  THAT  SHALL  LIST  AND  DESCRIBE THE PURPOSE OF EACH GRANT
ISSUED BETWEEN 2010 AND  2015.  SUCH  REPORT  SHALL  ALSO  DESCRIBE  THE
RESULTING PUBLIC BENEFIT OF EACH GRANT.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD11372-10-5

              

A. 7974--A                          2

  S  3.  The  public  authorities law is amended by adding a new section
2799-dddd-1 to read as follows:
  S  2799-DDDD-1.  NOT-FOR-PROFIT GRANT DISTRIBUTION. 1. THE CORPORATION
IS AUTHORIZED TO PROVIDE FINANCIAL ASSISTANCE IN THE FORM OF  GRANTS  TO
NOT-FOR-PROFIT CORPORATIONS OR GOVERNMENTAL AGENCIES THAT PROVIDE DIRECT
SERVICES OR BENEFITS TO THE RESIDENTS OF ROOSEVELT ISLAND, NOT TO EXCEED
THREE  PERCENT  OF THE OPERATING BUDGET OF THE CORPORATION, AND UPON THE
APPROVAL OF A MAJORITY OF THE ENTIRE BOARD OF THE CORPORATION.
  2. ON OR BEFORE MAY FIRST, TWO THOUSAND SIXTEEN, THE CORPORATION SHALL
POST A REPORT ON ITS WEBSITE THAT SHALL LIST AND DESCRIBE THE PURPOSE OF
EACH GRANT ISSUED BETWEEN TWO THOUSAND TEN  AND  TWO  THOUSAND  FIFTEEN.
SUCH  REPORT  SHALL  ALSO  DESCRIBE THE RESULTING PUBLIC BENEFIT OF EACH
GRANT.
  S 4. This  act  shall  take  effect  immediately,  provided,  however,
section  three of this act shall take effect on the same date and in the
same manner as a chapter of  the  laws  of  2015,  amending  the  public
authorities  law relating to the Roosevelt Island operating corporation,
as proposed in legislative  bills  numbers  S.922A  and  A.7430A,  takes
effect.