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Senate Bill S9698

2023-2024 Legislative Session

Relates to increasing the New York state housing finance agency bonding authority

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Archive: Last Bill Status - On Floor Calendar

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2023-S9698 (ACTIVE) - Details

See Assembly Version of this Bill:
A10345
Law Section:
Private Housing Finance Law
Laws Affected:
Amd §47, Priv Hous Fin L

2023-S9698 (ACTIVE) - Summary

Increases the New York state housing finance agency bonding authority to $34,380,000,000.

2023-S9698 (ACTIVE) - Sponsor Memo

2023-S9698 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9698
 
                             I N  S E N A T E
 
                               May 22, 2024
                                ___________
 
 Introduced  by  Sen. KAVANAGH -- (at request of the New York State Homes
   and Community Renewal) -- read twice and  ordered  printed,  and  when
   printed  to be committed to the Committee on Housing, Construction and
   Community Development
 
 AN ACT to amend the private housing finance law, in relation to increas-
   ing the New York state housing finance agency bonding authority

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Paragraph (c) of subdivision 1 of section 47 of the private
 housing  finance  law, as amended by chapter 479 of the laws of 2022, 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 developmental disabilities services
 project  bonds  and  community  mental health services and developmental
 disabilities 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  [thirty-one]  THIR-
 TY-FOUR  billion  [two]  THREE hundred eighty million dollars, excluding
 bonds and notes issued to refund outstanding bonds and notes.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14307-01-4

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