New York State Assembly

Bill No.:  

 
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S09293 Summary:

BILL NO	S09293
SAME AS	SAME AS A09120
SPONSOR	CLEARE
COSPNSR
MLTSPNSR
Requires educational institutions with an endowment of 10 billion dollars or more to incorporate thirty percent affordable housing units in any property owned by such institution that provides any form of housing.

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S09293 Actions:

BILL NO	S09293
05/10/2024	REFERRED TO HIGHER EDUCATION

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S09293 Committee Votes:

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S09293 Floor Votes:

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S09293 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          9293
 
                    IN SENATE
 
                                      May 10, 2024
                                       ___________
 
        Introduced  by  Sen.  CLEARE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Higher Education
 
        AN ACT to require educational institutions with an endowment of over ten
          billion dollars to provide a certain percentage of affordable  housing
          units
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Notwithstanding any other provision of law or any  rule  or
     2  regulation  to  the  contrary,  any educational institution which has an
     3  endowment of over ten billion dollars, and which is located  in  a  city
     4  with  a  population  of  one  million  or more, shall incorporate thirty
     5  percent affordable housing units, as defined  by  subparagraph  (xv)  of
     6  paragraph  (a)  of  subdivision 16 of section 421-a of the real property
     7  tax law, in any property owned by such institution  which  provides  any
     8  form of housing.
     9    § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14047-02-4

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