Assembly Bill A10469

2017-2018 Legislative Session

Enacts the New York state senior housing opportunities partnership act and establishes a state senior housing opportunities partnership authority

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Archive: Last Bill Status - In Assembly 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

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2017-A10469 (ACTIVE) - Details

See Senate Version of this Bill:
S7391
Current Committee:
Assembly Aging
Law Section:
Elder Law
Laws Affected:
Add §209-a, Eld L
Versions Introduced in Other Legislative Sessions:
2009-2010: S2216
2011-2012: S319
2013-2014: S151
2015-2016: S274
2019-2020: A4554, S5382
2021-2022: A2539, S5551
2023-2024: A4861, S2429

2017-A10469 (ACTIVE) - Summary

Enacts the New York state senior housing opportunities partnership act and establishes the New York state senior housing opportunities partnership authority; provides that such authority will finance or collaborate in the financing of senior housing opportunities facility projects.

2017-A10469 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   10469
 
                           I N  A S S E M B L Y
 
                              April 25, 2018
                                ___________
 
 Introduced  by M. of A. HYNDMAN -- read once and referred to the Commit-
   tee on Aging
 
 AN ACT to amend the elder law, in relation to establishing the New  York
   state senior housing opportunities partnership act
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The elder law is amended by adding a new section  209-a  to
 read as follows:
   §  209-A.  THE NEW YORK STATE SENIOR HOUSING OPPORTUNITIES PARTNERSHIP
 ACT.  1. SHORT TITLE. THIS SECTION SHALL BE KNOWN AND MAY  BE  CITED  AS
 THE "NEW YORK STATE SENIOR HOUSING OPPORTUNITIES PARTNERSHIP ACT".
   2. DEFINITIONS. AS USED IN THIS SECTION:
   A.  "AUTHORITY"  MEANS THE NEW YORK STATE SENIOR HOUSING OPPORTUNITIES
 PARTNERSHIP AUTHORITY CREATED BY THIS SECTION.
   B. "BANK" MEANS ANY BANKING ORGANIZATION DEFINED BY SECTION TWO OF THE
 BANKING LAW THAT HAS A MARKET CAPITALIZATION (DETERMINED BY  MULTIPLYING
 THE   NUMBER OF SHARES TIMES THE CURRENT MARKET PRICE), OF LESS THAN TWO
 BILLION DOLLARS.
   C. "SENIOR" MEANS A PERSON WHO IS SIXTY YEARS OF AGE OR OLDER  WHO  IS
 THE  HEAD  OF  A  HOUSEHOLD. ANY OTHER PROVISION OF ANY OTHER LAW TO THE
 CONTRARY NOTWITHSTANDING, INCLUDING ANY PROVISION OF ARTICLE FIFTEEN  OF
 THE  EXECUTIVE LAW, IT SHALL NOT BE UNLAWFUL TO RESTRICT RENTAL, SALE OR
 LEASE OF A SENIOR HOUSING PROJECT FINANCED IN WHOLE OR IN  PART  BY  THE
 AUTHORITY  EXCLUSIVELY  TO  PERSONS  SIXTY YEARS OF AGE OR OLDER AND THE
 SPOUSE OF ANY SUCH PERSON.
   D. "SENIOR HOUSING OPPORTUNITIES DEVELOPMENT  CORPORATION"  MEANS  ANY
 PERSON,  INDIVIDUAL,  FIRM, PARTNERSHIP, ASSOCIATION, OR OTHER ENTITY OR
 COLLABORATION OF ENTITIES ORGANIZED OR EXISTING UNDER THE  LAWS  OF  THE
 STATE  OR  ANY  OTHER  STATE,  DOMESTIC OR FOREIGN, EXCLUSIVE OF A STATE
 AGENCY, UNDERTAKING THE CONSTRUCTION OF A SENIOR HOUSING FACILITY.
   E. "SENIOR HOUSING  OPPORTUNITIES  PARTNERSHIP  FINANCING  INSTRUMENT"
 MEANS  ANY FINANCING INSTRUMENT, INCLUDING A BANK LOAN, BONDS AND NOTES,
 OR CREDIT ENHANCEMENT ISSUED OR PURCHASED BY OR ON BEHALF  OF  A  SENIOR
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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