A07911 Summary:

BILL NO    A07911 

SAME AS    SAME AS S05777

SPONSOR    Magnarelli (MS)

COSPNSR    Lupardo, McDonald, Ramos, Santabarbara, Fahy, Steck, Skartados,
           Gottfried

MLTSPNSR   Crespo, Englebright, Magee, Simon

Amd SS1608 & 1609, N-PC L

Relates to the acquisition and disposition of property by land banks; provides
for no filing or recording fees for land banks.
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A07911 Actions:

BILL NO    A07911 

05/29/2015 referred to local governments
06/02/2015 reported referred to ways and means
06/15/2015 reported referred to rules
06/15/2015 reported 
06/15/2015 rules report cal.483
06/15/2015 ordered to third reading rules cal.483
06/17/2015 substituted by s5777
           S05777  AMEND=  VALESKY
           06/03/2015 REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS
           06/11/2015 COMMITTEE DISCHARGED AND COMMITTED TO RULES
           06/11/2015 ORDERED TO THIRD READING CAL.1513
           06/11/2015 PASSED SENATE
           06/11/2015 DELIVERED TO ASSEMBLY
           06/11/2015 referred to ways and means
           06/17/2015 substituted for a7911
           06/17/2015 ordered to third reading rules cal.483
           06/17/2015 passed assembly
           06/17/2015 returned to senate
           10/14/2015 DELIVERED TO GOVERNOR
           10/26/2015 SIGNED CHAP.407
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A07911 Votes:

There are no votes for this bill in this legislative session.
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A07911 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A7911          REVISED MEMO 06/30/2015
 
SPONSOR: Magnarelli (MS)
  TITLE OF BILL: An act to amend the not-for-profit corporation law, in relation to the acquisition and disposition of property by land banks   PURPOSE: This bill exempts New York State Land Banks from recording fees and § 2897 of the Public Authorities Law.   SUMMARY OF PROVISIONS: Section 1: Amends § 1608(a) of the Not-For-Profit Corporation Law to exempt Land Banks from recording fees. Section 2: Adds new paragraph (a-1) to § 1609 of the Not-For-Profit Corporation Law, exempting land banks from the property disposition requirements of § 2897 of the Public Authorities Law. Section 3: Establishes the effective date.   JUSTIFICATION: Land Banks were authorized in 2011 by the State Legislature as a new tool to help municipalities contend with tax delinquent, abandoned and blighted properties. As part of their work, Land Banks incur substantial fees recording documents with County Clerks. This can amount to hundreds of thousands of dollars a year, and forces them to divert funds from their primary purpose. This legislation will exempt Land Banks from these fees and allow them to devote more funds to their primary mission. Many of these properties would remain tax delinquent and abandoned if not for land bank inter- vention. Any fees lost to counties and the State will be made up for when these properties are redeveloped and returned to the tax rolls. Additionally, communities will benefit when these properties are returned to a useful purpose. Additionally, § 1609 of the Land Bank Act, entitled "Disposition of Property", sets forth detailed requirements concerning the disposition of property by land banks. As local public authorities, land banks are simultaneously required to comply with § 2897 of the Public Authorities Law, similarly entitled "Disposal of Public Authority Property". The public authority disposition provisions overlap, contradict and impair the disposition provisions in the Land Bank Act as the public authority provisions are designed to address the sale of property by a public authority which is not regularly engaged in the disposition of real property. Inherent in the primary mission and purpose of land banks is the regular disposition of property in the ordinary course of its day to day oper- ations. § 1609 of the Land Bank Act correctly anticipated such activity and vested a land bank, its board of directors and its foreclosing governmental units with, among other powers, the authority to establish the terms and conditions of the consideration received by a land bank for the transfer of its property, to establish hierarchical rankings of priorities for the use of property conveyed by a land bank and to impose specified voting and approval requirements of its board of directors. The requirement that land banks comply with both disposition statutes impedes the efficient and effective return of vacant, abandoned, and tax-delinquent properties to productive use, and was likely not the intent of the drafters of the Land Bank Act. An amendment to the Land Bank Act is proposed stating that § 1609 is intended to supersede § 2897 of the Public Authorities Law.   LEGISLATIVE HISTORY: New Bill.   FISCAL IMPLICATIONS: To be determined.   EFFECTIVE DATE: Immediately.
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A07911 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7911
 
                               2015-2016 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 29, 2015
                                       ___________
 
        Introduced  by  M.  of A. MAGNARELLI, LUPARDO, McDONALD -- read once and
          referred to the Committee on Local Governments
 
        AN ACT to amend the not-for-profit corporation law, in relation  to  the
          acquisition and disposition of property by land banks
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (a) of section 1608 of the not-for-profit  corpo-
     2  ration  law,  as added by chapter 257 of the laws of 2011, is amended to
     3  read as follows:
     4    (a) The real property of a land bank and its income and operations are
     5  exempt from all taxation by the state of New York  and  by  any  of  its
     6  political  subdivisions.   Notwithstanding any other general, special or
     7  local law relating to fees of clerks, no clerk shall charge or collect a
     8  fee for filing, recording  or  indexing  any  paper,  document,  map  or
     9  proceeding  filed,  recorded  or  indexed for a land bank, or an officer
    10  thereof acting in an official capacity, nor for furnishing a transcript,
    11  certification or copy of any paper, document, map or  proceeding  to  be
    12  used for land bank purposes.
    13    § 2.  Section 1609 of the not-for-profit corporation law is amended by
    14  adding a new paragraph (a-1) to read as follows:
    15    (a-1) This section governing the disposition of property by land banks
    16  shall  supersede section twenty-eight hundred ninety-seven of the public
    17  authorities law in the governance of property dispositions by land banks
    18  and, as such, notwithstanding any other general, special or local law to
    19  the contrary, section twenty-eight hundred ninety-seven  of  the  public
    20  authorities law shall not apply to land banks.
    21    § 3. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11414-01-5
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