Relates to establishing certain requirements for the dormitory authority of the state of New York prior to such authority issuing bonds and notes to finance projects for a private institution or organization.
STATE OF NEW YORK
________________________________________________________________________
4378
2021-2022 Regular Sessions
IN ASSEMBLY
February 4, 2021
___________
Introduced by M. of A. O'DONNELL -- read once and referred to the
Committee on Corporations, Authorities and Commissions
AN ACT to amend the public authorities law, in relation to establishing
certain requirements for the dormitory authority of the state of New
York prior to such authority issuing bonds and notes to finance
certain projects
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The public authorities law is amended by adding a new
2 section 1678-b to read as follows:
3 § 1678-b. Additional requirements for certain authority projects.
4 Notwithstanding any other provision of law to the contrary, prior to the
5 dormitory authority of the state of New York issuing bonds and notes to
6 finance a project for a private institution or organization, the dormi-
7 tory authority shall:
8 (a) be required to prepare a statement on the environmental impact of
9 the project such bonds or notes are to finance, and then hold a hearing
10 in the community affected on such environmental impact statement regard-
11 less of whether it is found that there would be a positive or negative
12 impact on the environment due to such project; and
13 (b) require any project for a private institution or organization that
14 such authority funds with bonds or notes to be contextual in appearance
15 to the buildings and structures surrounding such project and to be
16 approved by a local planning or zoning board or other similar board. If
17 no such local board exists then the office of parks, recreation and
18 historic preservation shall be required to review the project to deter-
19 mine if the project is contextual in appearance to the surrounding
20 buildings and structures.
21 § 2. This act shall take effect on the one hundred twentieth day after
22 it shall have become a law. Effective immediately, the addition, amend-
23 ment and/or repeal of any rule or regulation necessary for the implemen-
24 tation of this act on its effective date are authorized to be made and
25 completed on or before such effective date.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD08916-01-1
