Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 10, 2024 |
referred to higher education |
Senate Bill S9293
2023-2024 Legislative Session
Sponsored By
(D) 30th Senate District
Current Bill Status - In Senate Committee Higher Education 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
2023-S9293 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9120
- Current Committee:
- Senate Higher Education
- Law Section:
- Education
2023-S9293 (ACTIVE) - Sponsor Memo
BILL NUMBER: S9293 SPONSOR: CLEARE TITLE OF BILL: An act to require educational institutions with an endowment of over ten billion dollars to provide a certain percentage of affordable housing units PURPOSE OR GENERAL IDEA OF BILL: To require the provision of affordable housing by universities with endowments large enough to fund real estate purchases that erode the real estate tax base. SUMMARY OF PROVISIONS: Section 1 provides the requirement that universities located in a city over one million people with an endowment over $10 billion dollars shall provide 30 percent of the units in any building where housing units are provided by the university.
2023-S9293 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 9293 I N S E N A T E May 10, 2024 ___________ Introduced by Sen. CLEARE -- read twice and ordered printed, and when printed to be committed to the Committee on Higher Education AN ACT to require educational institutions with an endowment of over ten billion dollars to provide a certain percentage of affordable housing units THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Notwithstanding any other provision of law or any rule or regulation to the contrary, any educational institution which has an endowment of over ten billion dollars, and which is located in a city with a population of one million or more, shall incorporate thirty percent affordable housing units, as defined by subparagraph (xv) of paragraph (a) of subdivision 16 of section 421-a of the real property tax law, in any property owned by such institution which provides any form of housing. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14047-02-4
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