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STATE OF NEW YORK ________________________________________________________________________ S. 7133 A. 9689 SENATE - ASSEMBLY March 30, 2016 ___________ IN SENATE -- Introduced by Sen. LAVALLE -- read twice and ordered print- ed, and when printed to be committed to the Committee on Higher Educa- tion IN ASSEMBLY -- Introduced by M. of A. GLICK, BUCHWALD -- read once and referred to the Committee on Higher Education AN ACT to amend chapter 405 of the laws of 2011, relating to authorizing the lease of lands located at the state university of New York at Purchase, in relation to extending the authorization for the length of leased land; and in relation to removing prior approval for contracts or leases by the attorney general, director of budget and state comp- troller The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 2 of chapter 405 of the laws of 2011, relating to 2 authorizing the lease of lands located at the state university of New 3 York at Purchase, is amended to read as follows: 4 § 2. The trustees of the state university of New York are hereby 5 authorized to lease without any public bidding a portion of the lands of 6 the state university of New York at Purchase generally described in this 7 act to the Purchase college advancement corporation, a not-for-profit 8 corporation, upon such terms and conditions as the trustees deem advis- 9 able, for an initial term not to exceed [ forty] seventy-five years [ or10 for such time as may be necessary to complete repayment of any debt11 related to the projects described in this act, whichever is shorter]. 12 In the event that the real property which is the subject of such lease 13 or contract shall cease to be used for the purposes described in this 14 act, said lease shall immediately terminate and the real property and 15 any improvements thereon shall revert to the state university of New 16 York. Any contract or lease entered into pursuant to this act shall 17 provide that the real property which is the subject of such lease or 18 contract and any improvements thereon shall revert to the state univer- 19 sity of New York upon the expiration of such lease. The description of 20 the parcels to be leased pursuant to such section are not meant to be EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD14869-01-6S. 7133 2 A. 9689 1 legal descriptions, but are intended only to identify the parcels and 2 improvements to be leased for purposes consistent with the mission of 3 the state university of New York at Purchase. 4 § 2. Subdivision (a) of section 13 of chapter 405 of the Laws of 2011, 5 relating to authorizing the lease of lands located at the state univer- 6 sity of New York at Purchase, is amended to read as follows: 7 (a) [ Any contracts or leases entered into by the state university of8 New York or the Purchase college advancement corporation pursuant to9 this act shall be subject to approval of the attorney general as to form10 as well as by the director of the budget and the state comptroller.] Any 11 and all proceeds relating to the leases authorized by this act shall be 12 allocated by the board of trustees for Purchase college, state universi- 13 ty of New York, in the following manner: seventy-five percent to the 14 student financial aid for students who are eligible to receive a tuition 15 assistance award or supplemental tuition assistance pursuant to section 16 667 or 667-a of the education law and twenty-five percent to support 17 additional full-time faculty positions. 18 § 3. This act shall take effect immediately.