Bill Text: NY A09922 | 2013-2014 | General Assembly | Introduced

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Bill Title: Relates to the powers of the New York state housing finance agency with respect to an increase in bond and note authorization.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2014-08-11 - signed chap.283 [A09922 Detail]

Download: New_York-2013-A09922-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         9922
                                 I N  A S S E M B L Y
                                     May 29, 2014
                                      ___________
       Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Wright) --
         (at request of the New York State Homes and Community Renewal) -- read
         once and referred to the Committee on Housing
       AN ACT to amend the private housing finance  law,  in  relation  to  the
         powers of the New York state housing finance agency with respect to an
         increase in bond and note authorization
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. Paragraph (c) of subdivision 1 of section 47 of the private
    2  housing finance law, as amended by chapter 419 of the laws of  2012,  is
    3  amended to read as follows:
    4    (c)  The  agency  shall  not  issue  bonds  and notes other than state
    5  university construction bonds and state university  construction  notes,
    6  hospital  and  nursing  home project bonds and hospital and nursing home
    7  project notes, health facilities  bonds  and  health  facilities  notes,
    8  youth  facilities  project  bonds  and  youth  facilities project notes,
    9  community mental health services and mental retardation services project
   10  bonds and  community  mental  health  services  and  mental  retardation
   11  services project notes, community senior citizens services project notes
   12  or  community  senior citizens services project bonds and mental hygiene
   13  improvement bonds and mental hygiene improvement  notes  and  bonds  and
   14  notes  for  the  housing program for any of its corporate purposes in an
   15  aggregate principal amount exceeding [seventeen] EIGHTEEN billion  [two]
   16  SEVEN  hundred  eighty million dollars, excluding bonds and notes issued
   17  to refund outstanding bonds and notes.
   18    S 2. This act shall take effect immediately.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD13817-02-4