NY State Senate Bill 2017-S6414

Archive: Last Bill Status Via A8259 - Signed by Governor

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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Actions

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jul 21, 2017	signed chap.89
Jul 12, 2017	delivered to governor
Jun 21, 2017	returned to assembly passed senate 3rd reading cal.2176 substituted for s6414
Jun 21, 2017	substituted by a8259 ordered to third reading cal.2176 committee discharged and committed to rules
May 24, 2017	reported and committed to finance
May 17, 2017	referred to housing, construction and community development

Votes

- Jun 21, 2017 - Floor Vote
  A8259
  
  62
  
  Aye
  
  0
  
  Nay
  
  1
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Floor Vote: Jun 21, 2017
      
      aye (62)
      
      Addabbo Jr.
      
      Akshar
      
      Alcantara
      
      Amedore
      
      Avella
      
      Bailey
      
      Benjamin
      
      Bonacic
      
      Boyle
      
      Breslin
      
      Brooks
      
      Carlucci
      
      Comrie
      
      Croci
      
      DeFrancisco
      
      Diaz
      
      Dilan
      
      Felder
      
      Flanagan
      
      Funke
      
      Gallivan
      
      Gianaris
      
      Golden
      
      Griffo
      
      Hamilton
      
      Hannon
      
      Helming
      
      Hoylman-Sigal
      
      Jacobs
      
      Kaminsky
      
      Kennedy
      
      Klein
      
      Krueger
      
      LaValle
      
      Lanza
      
      Larkin
      
      Latimer
      
      Little
      
      Marcellino
      
      Marchione
      
      Montgomery
      
      Murphy
      
      O'Mara
      
      Ortt
      
      Parker
      
      Peralta
      
      Persaud
      
      Phillips
      
      Ranzenhofer
      
      Ritchie
      
      Rivera
      
      Robach
      
      Savino
      
      Serino
      
      Serrano
      
      Seward
      
      Squadron
      
      Stavisky
      
      Stewart-Cousins
      
      Tedisco
      
      Valesky
      
      Young
      
      absent (1)
      
      Sanders Jr.
  Jun 21, 2017 - Rules Committee Vote
  S6414
  
  22
  
  Aye
  
  0
  
  Nay
  
  3
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Rules Committee Vote: Jun 21, 2017
      
      aye (22)
      
      Bonacic
      
      Breslin
      
      Carlucci
      
      DeFrancisco
      
      Dilan
      
      Flanagan
      
      Gianaris
      
      Hannon
      
      Kennedy
      
      Krueger
      
      Lanza
      
      Larkin
      
      Little
      
      Marcellino
      
      Parker
      
      Ranzenhofer
      
      Robach
      
      Savino
      
      Seward
      
      Squadron
      
      Stewart-Cousins
      
      Valesky
      
      aye wr (3)
      
      Griffo
      
      LaValle
      
      Montgomery
  May 24, 2017 - Housing, Construction And Community Development Committee Vote
  S6414
  
  9
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Housing, Construction And Community Development Committee Vote: May 24, 2017
      
      aye (9)
      
      Avella
      
      Bailey
      
      Bonacic
      
      Boyle
      
      Brooks
      
      Gallivan
      
      Krueger
      
      Little
      
      Young

2017-S6414 (ACTIVE) - Details

See Assembly Version of this Bill:: A8259
Law Section:: Private Housing Finance Law
Laws Affected:: Amd §47, Priv Hous Fin L; amd §6, Chap 514 of 1983; amd §7, Chap 396 of 1984; amd §16, Chap 915 of 1982; amd §2407, Pub Auth L; amd §19, Chap 555 of 1989; amd §2, Chap 172 of 2002; amd §4, Chap 208 of 2010; amd §5, Chap 246 of 2010
Versions Introduced in 2015-2016 Legislative Session:: S4978, A7912

2017-S6414 (ACTIVE) - Summary

Relates to powers of the New York state housing finance agency and the state of New York mortgage agency; extends certain provisions.

2017-S6414 (ACTIVE) - Sponsor Memo

                                 BILL NUMBER:  S6414

 TITLE OF BILL :

An act to amend the private housing finance law, in relation to the
powers of the New York state housing finance agency, with relation to
an increase in bond and note authorization; to amend chapter 514 of
the laws of 1983 amending the private housing finance law and the real
property tax law relating to the powers of the New York state housing
finance agency to finance certain multi-family housing and chapter 396
of the laws of 1984, amending the private housing finance law and the
real property tax law relating to the powers of the New York state
housing finance agency to finance certain multi-family housing, in
relation to the effectiveness of such chapters; to amend chapter 915
of the laws of 1982 amending the public authorities law, relating to
the powers of the state of New York mortgage agency, in relation to
the effective date thereof; to amend the public authorities law, in
relation to the powers of the state of New York mortgage agency; to
amend chapter 555 of the laws of 1989 amending the public authorities
law and other laws relating to establishing a New York state
infrastructure trust fund, in relation to the effective date thereof;
to amend chapter 172 of the laws of 2002, amending the public
authorities law relating to the powers of the state of New York
mortgage agency, in relation to extending the provisions thereof; to
amend chapter 208 of the laws of 2010 amending the public authorities
law relating to the powers of the state of New York mortgage agency,

in relation to extending the provisions thereof; and to amend chapter
246 of the laws of 2010 amending the public authorities law relating
to the powers of the state of New York mortgage agency, in relation to
extending the provisions thereof

 PURPOSE OF THE BILL :

The bill would extend certain statutory authorizations of the New York
State Housing Finance Agency ("HFA"), the State of New York Mortgage
Agency ("SONYMA") and the SONYMA Mortgage Insurance Fund ("MIF").
This bill would also increase the bonding authority of HFA by $2.5
billion to a maximum aggregate of $26.780 billion.

 SUMMARY OF PROVISIONS :

Section 1 of the bill would increase HFA's bonding authority by $2.5
billion to a maximum aggregate of $26.780 billion.

Sections 2 and 3 of the bill would extend HFA's authority to finance
certain multifamily housing projects until July 23, 2019.

Section 4 of the bill would extend SONYMA's authority to purchase
forward commitment mortgages until July 23, 2019.

Section 5 of the bill would extend SONYMA's authority to issue new
money taxable and tax-exempt bonds until July 23, 2019.

Section 6 of the bill would extend until July 23, 2019, the sunset
date of: (i) sections six and nine through seventeen of legislation
enacted in 1989 that broadened the scope of the MIF to provide primary
mortgage insurance on a statewide basis to individual homeowners and
to provide pool insurance to all of SONYMA's loans, and (ii) section
13 of legislation enacted in 2004 concerning development corporation
credit support relating to the Jacob Davits Convention Center.

Section 7 of the bill would extend until July 23, 2019, the sunset
date of the requirement that at least 20% of a rehabilitation loan
given by SONYMA be used for rehabilitation or construction of
improvements.

Section 8 of the bill would extend until July 23, 2019, the sunset
date with regard to the definition of government sponsored enterprises
("GSE").

Section 9 of the bill would extend until July 23, 2019, the sunset
date with regard to the authorization of the MIF to provide one
hundred percent mortgage insurance on certain loans extended for the
sole purpose of refinancing existing indebtedness which relates to
over-leveraged multi-family residential buildings.

Section 10 of the bill would provide for an immediate effective date.

 JUSTIFICATION :

HFA

This bill would increase the maximum amount of new money bonds which
HFA is authorized to issue. HFA currently has a substantial pipeline
of financing requests that will result in both the creation and
preservation of affordable housing across New York State. The bill
would increase HFA's authority to issue bonds by $2.5 billion for a
maximum aggregate of $26.780 billion, which will enable the Agency to
continue to meet the housing demands of New Yorkers, as well as help
create jobs and provide economic stimulus.

SONYMA

SONYMA's statutory authorizations to issue new money tax-exempt bonds
and to purchase forward commitment mortgages are scheduled to sunset
on July 23, 2017. SONYMA's statutory authorization to issue new money
taxable bonds is also scheduled to sunset on July 23, 2017. This bill
would extend the sunset dates for the issuance of new money tax-exempt
bonds and new money taxable bonds, and for the purchase of forward
commitment mortgages until July 23, 2019.

In 2010, SONYMA was authorized to purchase and insure second mortgages
where the second mortgage is made simultaneously and with respect to
the same secured property as a first or senior mortgage that is
purchased by a GSE. In 2012 SONYMA was authorized to originate loans
secured by mortgages secured by a second lien in cases where the
second lien (i) secures a mortgage loan purchased by SONYMA, and (ii)
is made at the same time as a first lien securing a mortgage loan
purchased by SONYMA pursuant to its programs or by a GSE. In order for
this power to continue to be exercisable by SONYMA, the definition of
GSEs, which currently sunsets in July of 2017, must be extended until
July 23, 2019.

MIF

Enactment of Chapter 555 of the Laws of 1989 and of Chapter 3 of the
Laws of 2004 enabled SONYMA to provide primary mortgage insurance on a
statewide basis, provide pool insurance for mortgages on one-to-four
family homes and on multi-family projects where the loans are made by
lenders who meet certain criteria, and to provide credit support to
the Jacob Javits Convention Center. However, these provisions will
sunset on July 23, 2017. The bill extends these sunset provisions
until July 23, 2019.

Without an extension, the MIF will only be able to insure mortgages
for projects located in "blighted" neighborhoods and provide per
project mortgage insurance in amounts not exceeding $5 million or $10
million depending upon project type. In addition, the MIF will be
unable to provide primary mortgage insurance, pool insurance, and
credit support.


SONYMA's primary tool for promoting new construction and
rehabilitation of affordable housing is its authority to insure
rehabilitation loans. The statutory authority that reduced the
percentage of a rehabilitation loan that must be attributable by
SONYMA to the cost of rehabilitation or new improvements from 25% to
20% of the mortgage loan is set to expire on July 23, 2017 and must be
extended until July 23, 2019.

The 25% requirement is inconsistent with the provisions of the
Internal Revenue Code (the "Code") concerning the issuance of
tax-exempt bonds for multifamily housing. Under the Code a minimum of
15% of such bonds must fund construction or rehabilitation costs.
Several of the most important users of SONYMA's mortgage insurance are
public benefit corporations, such as HFA, that issue tax-exempt bonds
subject to the standards set by the Code. The 25% requirement also
encourages lenders and borrowers to "pad" prospective loans with
additional improvements not otherwise necessary for the project so
that they are eligible under the definition of "rehabilitation loan."

The reduction of the percentage requirement from 25% to 20% has
resulted in SONYMA's insurance product matching more closely the needs
of some of its primary users without in any way negatively affecting
the programmatic or financial integrity of the ME.  The bill would
extend the authority of the MIF to provide one hundred percent
mortgage insurance on certain loans extended for the sole purpose of
refinancing existing indebtedness which relates to over leveraged
multi-family buildings. In order for this power to be exercisable by
the MIF, the provision, which currently sunsets on July 23, 2017, must
be extended until July 23, 2019.

Prior legislative history:

HFA

See Chapter 85 of the Laws of 2015,Chapter 283 of the Laws of 2014;
Chapter 152 of the Laws of 2013; Chapter 419 of the Laws of 2012;
Chapter 100 of the Laws of 2011; Chapter 407 of the laws of 2010; See
Chapter 176 of the Laws of 2009; Chapter 151 of the laws of 2008;
Chapter 85 of the Laws of 2007; Chapter 398 of the Laws of 2006;
Chapter 124 of the Laws of 2005; Chapter 204 of the Laws of 2004;
Chapter 99 of the Laws of 2003; Chapter 48 of the Laws of 2002;
Chapter 363 of the Laws of 2001; and Chapter 131 of the Laws of 2000.

SONYMA

See Chapter 85 of the Laws of 2015, Chapter 152 of the Laws of 2013,
Chapter 100 of the Laws of 2011, Chapter 218 of the Laws of 2010,
Chapter 177 of the Laws of 2009, Chapter 148 of the Laws of 2008,
Chapter 172 of the Laws of 2002.

 FISCAL IMPLICATIONS :

None.

 EFFECTIVE DATE :
The bill would take effect immediately.

2017-S6414 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6414
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                               May 17, 2017
                                ___________
 
 Introduced  by  Sen.  LITTLE -- (at request of the Division of Housing &
   Community Renewal) -- read twice and ordered printed, and when printed
   to be committed to the Committee on Housing, Construction and Communi-
   ty Development
 
 AN ACT to amend the private housing finance  law,  in  relation  to  the
   powers  of the New York state housing finance agency, with relation to
   an increase in bond and note authorization; to amend  chapter  514  of
   the laws of 1983 amending the private housing finance law and the real
   property  tax law relating to the powers of the New York state housing
   finance agency to finance certain multi-family housing and chapter 396
   of the laws of 1984, amending the private housing finance law and  the
   real  property  tax  law  relating to the powers of the New York state
   housing finance agency to finance  certain  multi-family  housing,  in
   relation  to  the effectiveness of such chapters; to amend chapter 915
   of the laws of 1982 amending the public authorities law,  relating  to
   the  powers  of  the state of New York mortgage agency, in relation to
   the effective date thereof; to amend the public  authorities  law,  in
   relation  to  the  powers of the state of New York mortgage agency; to
   amend chapter 555 of the laws of 1989 amending the public  authorities
   law  and  other laws relating to establishing a New York state infras-
   tructure trust fund, in relation to the  effective  date  thereof;  to
   amend chapter 172 of the laws of 2002, amending the public authorities
   law  relating  to the powers of the state of New York mortgage agency,
   in relation to extending the provisions thereof; to amend chapter  208
   of  the  laws  of 2010 amending the public authorities law relating to
   the powers of the state of New York mortgage agency,  in  relation  to
   extending the provisions thereof; and to amend chapter 246 of the laws
   of  2010 amending the public authorities law relating to the powers of
   the state of New York mortgage agency, in relation  to  extending  the
   provisions thereof
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD09943-01-7

 S. 6414                             2
 
   Section 1. Paragraph (c) of subdivision 1 of section 47 of the private
 housing finance law, as amended by chapter 163 of the laws of  2016,  is
 amended to read as follows:
   (c)  The  agency  shall  not  issue  bonds  and notes other than state
 university construction bonds and state university  construction  notes,
 hospital  and  nursing  home project bonds and hospital and nursing home
 project notes, health facilities  bonds  and  health  facilities  notes,
 youth  facilities  project  bonds  and  youth  facilities project notes,
 community mental health services and mental retardation services project
 bonds and  community  mental  health  services  and  mental  retardation
 services project notes, community senior citizens services project notes
 or  community  senior citizens services project bonds and mental hygiene
 improvement bonds and mental hygiene improvement  notes  and  bonds  and
 notes  for  the  housing program for any of its corporate purposes in an
 aggregate principal amount exceeding  [twenty-four]  TWENTY-SIX  billion
 [two]  SEVEN  hundred  eighty million dollars, excluding bonds and notes
 issued to refund outstanding bonds and notes.
   § 2. Section 6 of chapter 514  of  the  laws  of  1983,  amending  the
 private  housing  finance  law and the real property tax law relating to
 the powers of the New York  state  housing  finance  agency  to  finance
 certain  multi-family  housing,  as amended by chapter 85 of the laws of
 2015, is amended to read as follows:
   § 6. This act shall take effect immediately and shall remain  in  full
 force  and  effect  until July 23, [2017] 2019 at which time it shall be
 repealed.
   § 3. Section 7 of chapter 396  of  the  laws  of  1984,  amending  the
 private  housing  finance  law and the real property tax law relating to
 the powers of the New York  state  housing  finance  agency  to  finance
 certain  mutli-family  housing,  as amended by chapter 85 of the laws of
 2015, is amended as follows:
   § 7. This act shall take effect immediately, except that sections one,
 three, four, five and six of this act shall remain  in  full  force  and
 effect  until  July 23, [2017] 2019 at which time such sections shall be
 repealed.
   § 4. Section 16 of chapter 915 of the laws of 1982 amending the public
 authorities law relating to the powers of the state of New York mortgage
 agency, as amended by chapter 85 of the laws of 2015, is amended to read
 as follows:
   § 16. This act shall take effect immediately except  that  the  amend-
 ments  to  law  effected  by  sections  one  through ten of this act, as
 amended, shall cease to be of force and effect on  and  after  July  23,
 [2017]  2019, on which date the provisions of the public authorities law
 amended by such sections shall be as they were in force and effect imme-
 diately prior to this act taking effect.
   § 5. Section 2407 of the public authorities law, as amended by chapter
 85 of the laws of 2015, subdivision 2 as amended by chapter 163  of  the
 laws of 2016, is amended to read as follows:
   §  2407.  Bond limits. (1) Except for notes issued in nineteen hundred
 seventy and nineteen hundred seventy-one, the  agency  shall  not  issue
 bonds  and  notes,  the  interest  on which is not included in the gross
 income of the holders of the bonds and notes  under  the  United  States
 Internal Revenue Code of 1986, as amended, or any subsequent correspond-
 ing internal revenue law of the United States, in an aggregate principal
 amount exceeding ten billion two hundred twenty million dollars, exclud-
 ing  from  such  limitation  (a)  an  amount equal to any original issue
 discount from the principal amount of any bonds  or  notes  issued,  (b)

 S. 6414                             3
 
 bonds  and  notes  issued to refund outstanding bonds and notes, and (c)
 bonds and notes not described  in  paragraph  (b)  of  this  subdivision
 issued  to  refund  outstanding  bonds  and notes in accordance with the
 provisions of the Internal Revenue Code of 1986 or the Tax Reform Act of
 1986,  as  amended,  where  such  bonds or notes are not included in the
 statewide volume cap on private purpose bonds under section 146 of  such
 code  provided,  however, that upon any refunding pursuant to this para-
 graph or paragraph (b) of this subdivision, such exclusion  shall  apply
 only  to the extent that the amount of the refunding bonds or notes does
 not exceed (i) the outstanding amount of the refunded  bonds  or  notes,
 plus  (ii)  to the extent permitted by applicable federal tax law, costs
 of issuance of the refunding bonds or notes  to  be  financed  from  the
 proceeds of the refunding bonds or notes.  No such bond or note shall be
 issued by the agency on or after July twenty-third, two thousand [seven-
 teen]  NINETEEN,  excluding bonds and notes issued to refund outstanding
 bonds and notes. No more than five hundred million dollars  of  proceeds
 of  bonds  or  notes  issued  by the agency pursuant to this subdivision
 shall be used for mortgage purposes by blending with proceeds  of  bonds
 issued pursuant to subdivision two of this section.
   (2)  In  connection  with  the  issuance  of  bonds for the purpose of
 furthering programs described in this title, the agency is authorized to
 covenant and consent that the interest on any of  its  bonds,  notes  or
 other  obligations shall be includable, under the United States Internal
 Revenue Code of 1986, as amended or any subsequent corresponding  inter-
 nal revenue law of the United States, in the gross income of the holders
 of the bonds to the same extent and in the same manner that the interest
 on  bills,  bonds,  notes  or  other obligations of the United States is
 includable in the gross income of the holders thereof under said  Inter-
 nal  Revenue  Code or any such subsequent law. Pursuant to this subdivi-
 sion, the agency shall not issue bonds, notes or other obligations in an
 aggregate principal amount exceeding one billion dollars, excluding from
 such limitation bonds, notes  or  other  obligations  issued  to  refund
 outstanding  bonds,  notes  or  other obligations. No such bond, note or
 other obligation shall be issued by the agency on or after July  twenty-
 third,  two  thousand  [seventeen]  NINETEEN,  excluding bonds, notes or
 other obligations issued to refund outstanding  bonds,  notes  or  other
 obligations  and  no  mortgages  shall be purchased with the proceeds of
 such bonds, notes or other obligations after such  date.  The  board  of
 directors  of the agency shall establish program guidelines for purposes
 of bonds, notes or other obligations issued pursuant  to  this  subdivi-
 sion.  The  board of directors shall establish from time to time maximum
 income limits of persons  eligible  to  receive  mortgages  financed  by
 bonds,  notes  or other obligations issued pursuant to this subdivision,
 which income limits with respect to one-third  of  the  total  principal
 amount  of  mortgages  authorized to be so financed shall not exceed one
 hundred twenty-five percent of the latest maximum income limits  permit-
 ted  under the Internal Revenue Code of 1986, as amended, for mortgagors
 financed by mortgage revenue bonds, with respect to  one-third  of  such
 principal  amount  authorized  to  be  so financed, shall not exceed one
 hundred thirty-five percent of such income limits, and with  respect  to
 one-third  of  such principal amount authorized to be so financed, shall
 not exceed one hundred fifty  percent  of  such  limits,  provided  that
 notwithstanding  the  foregoing,  the  maximum  income limits of persons
 eligible to receive mortgages financed by the agency under its neighbor-
 hood revitalization program (and any successor program) shall not exceed
 one hundred fifty percent of the latest maximum income limits  permitted

 S. 6414                             4
 
 under  the  Internal  Revenue  Code  of 1986, as amended, for mortgagors
 financed by mortgage revenue bonds.
   (3)  The fixing of the statutory maximums in this section shall not be
 construed as constituting a contract between the agency and the  holders
 of  its bonds or notes that additional bonds and notes may not be issued
 subsequently by the agency in the event  that  such  statutory  maximums
 shall subsequently be increased by law.
   § 6. Section 19 of chapter 555 of the laws of 1989 amending the public
 authorities law and other laws relating to establishing a New York state
 infrastructure trust fund, as amended by chapter 85 of the laws of 2015,
 is amended to read as follows:
   §  19.  This  act shall take effect immediately and shall be deemed to
 have been in full force and effect on and after June 15,  1989  provided
 that  the  amendments  to  law effected by sections six and nine through
 seventeen of this act, as amended, shall cease to be of force and effect
 on and after July 23, [2017] 2019, on which date the provisions  of  the
 public authorities law amended by such sections shall be as they were in
 force  and  effect  immediately  prior  to  this  act taking effect, and
 provided however that the amendments to law effected by sections six and
 nine through seventeen of this act, as amended, shall continue to  apply
 to  all commitments issued or policies or development corporation credit
 support in force on or before July 23, [2017] 2019, and provided further
 that the amendments to section 2429-b of the public authorities law made
 by section 13 of chapter 3 of  the  laws  of  2004  which  amended  this
 section shall not cease to be of force and effect prior to the time that
 full  payment  of all development corporation credit support obligations
 has been made or provided for.
   § 7. Section 2 of chapter 172 of the laws of 2002 amending the  public
 authorities law relating to the powers of the state of New York mortgage
 agency, as amended by chapter 85 of the laws of 2015, is amended to read
 as follows:
   §  2.  This act shall take effect immediately and shall remain in full
 force and effect until July 23, [2017] 2019,  whereupon  such  date  the
 provisions of this act shall expire and be deemed repealed.
   §  8. Section 4 of chapter 208 of the laws of 2010 amending the public
 authorities law relating to the powers of the state of New York mortgage
 agency, as amended by chapter 85 of the laws of 2015, is amended to read
 as follows:
   § 4. This act shall take effect immediately, provided that the  amend-
 ments  to  subdivision  5  of section 2402 of the public authorities law
 made by section one of this act shall be subject to the  expiration  and
 reversion  of  such subdivision pursuant to section 16 of chapter 915 of
 the laws of 1982, as amended, when upon  such  date  the  provisions  of
 section  two  of  this act shall take effect; further provided that this
 act shall expire and be deemed repealed July 23, [2017] 2019.
   § 9. Section 5 of chapter 246 of the laws of 2010 amending the  public
 authorities law relating to the powers of the state of New York mortgage
 agency, as amended by chapter 85 of the laws of 2015, is amended to read
 as follows:
   §  5.  This  act shall take effect immediately and shall expire and be
 deemed repealed  on and after July 23, [2017] 2019;  provided,  however,
 that the amendments to paragraph (c) of subdivision 8 of section 2428 of
 the  public  authorities  law  made by section two of this act shall not
 affect the expiration of such subdivision and shall be deemed to  expire
 therewith.
   § 10. This act shall take effect immediately.

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Senate Bill S6414

Sponsored By

Archive: Last Bill Status Via A8259 - Signed by Governor

Jun 21, 2017 - Floor Vote

Floor Vote: Jun 21, 2017

Jun 21, 2017 - Rules Committee Vote

Rules Committee Vote: Jun 21, 2017

May 24, 2017 - Housing, Construction And Community Development Committee Vote

Housing, Construction And Community Development Committee Vote: May 24, 2017

2017-S6414 (ACTIVE) - Details

2017-S6414 (ACTIVE) - Summary

2017-S6414 (ACTIVE) - Sponsor Memo

2017-S6414 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S6414

Share this bill

Sponsored By

Betty Little

Archive: Last Bill Status Via A8259 - Signed by Governor

2017-S6414 (ACTIVE) - Details

2017-S6414 (ACTIVE) - Summary

2017-S6414 (ACTIVE) - Sponsor Memo

2017-S6414 (ACTIVE) - Bill Text download pdf

Comments