New York State Assembly

 
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A07359 Summary:

A07359 Actions:

A07359 Committee Votes:

Committee:HOUSING   Chair:Rosenthal L      
DATE:05/24/2023AYE/NAY:26/0  Action: Favorable refer to committee Ways and Means        
Rosenthal
Aye
Fitzpatrick
Aye
Cook
Aye
Byrnes
Aye
Kim
Aye
Brown K 
Aye
Walker
Aye
Gallahan
Aye
Joyner
Aye
Brown E 
Aye
Bichotte Hermel
Excused
Brook-Krasny
Aye
Davila
Aye
Chang
Aye
Taylor
Aye
Novakhov
Aye
Epstein
Aye
Eichenstein
Aye
Meeks
Excused
Burdick
Aye
Rivera
Aye
Jackson
Aye
Kelles
Aye
Tapia
Aye
Lucas
Aye
Chandler-Waterm
Aye
Lee
Aye
Levenberg
Aye

Committee:WAYS AND MEANS   Chair:Weinstein      
DATE:05/24/2023AYE/NAY:26/6  Action: Favorable refer to committee Rules        
Weinstein
Aye
Ra
Aye
Glick
Aye
Fitzpatrick
Aye
Pretlow
Aye
Hawley
Excused
Colton
Aye
Blankenbush
Aye
Cook
Aye
Norris
Nay
Aubry
Aye
Brabenec
Nay
Benedetto
Aye
Palmesano
Aye
Weprin
Aye
Walsh
Nay
Ramos
Aye
DeStefano
Nay
Braunstein
Aye
Manktelow
Nay
McDonald
Excused
Smullen
Nay
Rozic
Aye
Dinowitz
Aye
Joyner
Aye
Magnarelli
Aye
Zebrowski
Aye
Bronson
Aye
Dilan
Aye
Seawright
Aye
Hyndman
Aye
Walker
Aye
Bichotte Hermel
Excused
Simon
Aye
Cruz
Aye

Committee:RULES   Chair:Pretlow      
DATE:05/30/2023AYE/NAY:28/1  Action: Favorable         
Heastie
Excused
Barclay
Aye
Weinstein
Aye
Hawley
Aye
Pretlow
Aye
Giglio
Aye
Cook
Aye
Blankenbush
Aye
Glick
Aye
Norris
Nay
Aubry
Aye
Ra
Aye
Dinowitz
Aye
Brabenec
Aye
Colton
Aye
Palmesano
Aye
Magnarelli
Aye
Reilly
Aye
Paulin
Aye
Peoples-Stokes
Aye
Benedetto
Aye
Lavine
Aye
Lupardo
Aye
Zebrowski
Aye
Thiele
Aye
Braunstein
Aye
Dickens
Aye
Davila
Aye
Hyndman
Aye
Rozic
Excused
Bronson
Aye

A07359 Floor Votes:

A07359 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          7359
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                      May 18, 2023
                                       ___________
 
        Introduced  by M. of A. LUCAS -- read once and referred to the Committee
          on Housing
 
        AN ACT to amend the private housing finance law, in relation to increas-
          ing the bonding authority of the New  York  city  housing  development
          corporation
 
          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 656 of the  private
     2  housing  finance  law, as amended by chapter 546 of the laws of 2022, is
     3  amended to read as follows:
     4    c. No bonds or notes of the corporation shall be issued if  upon  such
     5  issuance the aggregate principal amount of bonds and notes of the corpo-
     6  ration  then  outstanding  exceeds  the  lesser  of  [eighteen] nineteen
     7  billion dollars or such  amount  as  would  cause  the  maximum  capital
     8  reserve fund requirement to exceed eighty-five million dollars; provided
     9  that,  in  determining  such  aggregate principal amounts there shall be
    10  deducted (i) all sums then available for the payment of  such  bonds  or
    11  notes  either  at  maturity  or through the operation of a sinking fund;
    12  (ii) the aggregate principal amount of outstanding bonds issued  (a)  to
    13  refund  notes  and  (b)  to  refund  bonds,  theretofore issued and then
    14  outstanding; and (iii) the aggregate  principal  amount  of  outstanding
    15  notes issued to renew notes theretofore issued and then outstanding. The
    16  provisions  of the prior sentence notwithstanding, the corporation shall
    17  not issue bonds if such issuance shall cause the  maximum  reserve  fund
    18  requirement  to exceed thirty million dollars unless prior to such issu-
    19  ance the senate and assembly shall have adopted a concurrent  resolution
    20  passed  by  the  votes  of a majority of all the members elected to each
    21  such house and, subsequent thereto, the governor shall evidence in writ-
    22  ing the governor's agreement with such resolution to the chairperson  of
    23  the  corporation,  which resolution shall be in full force and effect on
    24  the date of issuance  of  the  bonds,  permitting  the  maximum  capital
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11208-01-3
        A. 7359                             2
 
     1  reserve  fund  requirement  to equal or exceed the amount of the maximum
     2  capital reserve fund requirement which would be effective upon the issu-
     3  ance of the bonds in question, but in no event shall the maximum capital
     4  reserve fund requirement exceed eighty-five million dollars.
     5    § 2. This act shall take effect immediately.