Prohibits the expenditure of moneys of the state by the dormitory authority to private institutions for projects that include the construction of a hotel or similar lodging facility, not including student housing.
NEW YORK STATE ASSEMBLY MEMORANDUM IN SUPPORT OF LEGISLATION submitted in accordance with Assembly Rule III, Sec 1(f)
BILL NUMBER: A4151
SPONSOR: O'Donnell TITLE OF BILL:
An act to amend the public authorities law, in relation to prohibiting
the expenditure of moneys of the state to private institutions for
projects that include the construction of a hotel
PURPOSE:
To prohibit the expenditure of moneys of the state to private insti-
tutions for projects that include the construction of a hotel
SUMMARY OF PROVISIONS:
Section 1 adds a new section 1678-b to prohibit the Dormitory Authority
of the State of New York (DASNY) from issuing any bonds or other financ-
ing for any project which will contain a hotel or similar private lodg-
ing facility (excluding student housing).
Section 2 more broadly bans any state money from being used to finance
projects by educational institutions that include a hotel or similar
private lodging facility (excluding student housing).
JUSTIFICATION:
State-backed financing from DASNY has always been intended to finance
dormitory projects for New York students. Universities should not be
allowed to use this financing for projects that involve hotels or other
private lodging which do not serve students and only seem to serve as
profit-centers for already well-resourced private institutions.
LEGISLATIVE HISTORY:
A.4421 (2021-22)
A.9871 (2019-20)
FISCAL IMPLICATIONS:
None.
EFFECTIVE DATE:
This act shall take effect immediately.
STATE OF NEW YORK
________________________________________________________________________
4151
2023-2024 Regular Sessions
IN ASSEMBLY
February 10, 2023
___________
Introduced by M. of A. O'DONNELL -- read once and referred to the
Committee on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to prohibiting
the expenditure of moneys of the state to private institutions for
projects that include the construction of a hotel
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The public authorities law is amended by adding a new
2 section 1678-b to read as follows:
3 § 1678-b. Prohibition of funds for certain authority projects.
4 Notwithstanding any other provision of law to the contrary, the dormito-
5 ry authority of the state of New York shall not issue bonds or notes to
6 finance a project for a private institution or organization if such
7 project includes provisions relating to the construction of a hotel or
8 similar lodging facility; provided, however, this section shall not
9 apply to student housing.
10 § 2. Notwithstanding any provision of law to the contrary, no moneys
11 of the state, any political subdivision thereof or public authority
12 shall be expended to educational institutions for any project that
13 includes the construction of a hotel or similar lodging facility;
14 provided, however, this section shall not apply to student housing.
15 § 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08992-01-3
