S09297 Summary:
| BILL NO | S09297 |
| SAME AS | SAME AS A10245 |
| SPONSOR | HELMING |
| COSPNSR | |
| MLTSPNSR | |
| Amd §1603, N-PC L | |
| Permits land bank officers and employees to participate in the New York state and local retirement system if a resolution is adopted by its board of directors. | |
S09297 Text:
Go to topSTATE OF NEW YORK ________________________________________________________________________ 9297 IN SENATE February 25, 2026 ___________ Introduced by Sen. HELMING -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the not-for-profit corporation law, in relation to permitting land bank officers and employees to participate in the New York state and local retirement system The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 1603 of the not-for-profit corporation law is 2 amended by adding a new paragraph (i) to read as follows: 3 (i) Each land bank created pursuant to this article shall be a public 4 organization engaged in public service deriving its power from the New 5 York state legislature and, upon a resolution duly adopted by its board 6 of directors, may elect to have its officers and employees participate 7 in the New York state and local retirement system. 8 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD14577-01-6