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S06899 Summary:

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S06899 Floor Votes:

S06899 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6899
 
                    IN SENATE
 
                                      April 9, 2012
                                       ___________
 
        Introduced  by  Sen.  YOUNG  -- (at request of the Division of Housing &
          Community Renewal) -- read twice and ordered printed, and when printed
          to be committed to the Committee on Housing, Construction and Communi-
          ty Development
 
        AN ACT to amend the private housing finance  law,  in  relation  to  the
          powers  of  the  new  York state housing finance agency relating 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 100 of the laws of 2011, 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  [sixteen] seventeen billion two
    16  hundred eighty million dollars, excluding  bonds  and  notes  issued  to
    17  refund outstanding bonds and notes.
    18    § 2. This act shall take effect immediately.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14296-02-2