A07529 Summary:
BILL NO | A07529B |
  | |
SAME AS | SAME AS S07589-B |
  | |
SPONSOR | Magnarelli |
  | |
COSPNSR | Lupardo, McDonald, Crespo, Gottfried, Fahy, Skartados, Hunter |
  | |
MLTSPNSR | Magee |
  | |
Amd §§1607 & 1609, N-PC L | |
  | |
Authorizes holding title of real property of a land bank in the name of a subsidiary; grants additional powers to land banks. |
A07529 Actions:
BILL NO | A07529B | |||||||||||||||||||||||||||||||||||||||||||||||||
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05/15/2015 | referred to local governments | |||||||||||||||||||||||||||||||||||||||||||||||||
01/06/2016 | referred to local governments | |||||||||||||||||||||||||||||||||||||||||||||||||
01/12/2016 | amend (t) and recommit to local governments | |||||||||||||||||||||||||||||||||||||||||||||||||
01/12/2016 | print number 7529a | |||||||||||||||||||||||||||||||||||||||||||||||||
05/26/2016 | amend and recommit to local governments | |||||||||||||||||||||||||||||||||||||||||||||||||
05/26/2016 | print number 7529b | |||||||||||||||||||||||||||||||||||||||||||||||||
06/02/2016 | reported referred to ways and means | |||||||||||||||||||||||||||||||||||||||||||||||||
06/06/2016 | reported referred to rules | |||||||||||||||||||||||||||||||||||||||||||||||||
06/08/2016 | reported | |||||||||||||||||||||||||||||||||||||||||||||||||
06/08/2016 | rules report cal.162 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/08/2016 | ordered to third reading rules cal.162 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/09/2016 | passed assembly | |||||||||||||||||||||||||||||||||||||||||||||||||
06/09/2016 | delivered to senate | |||||||||||||||||||||||||||||||||||||||||||||||||
06/09/2016 | REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS | |||||||||||||||||||||||||||||||||||||||||||||||||
06/16/2016 | SUBSTITUTED FOR S7589B | |||||||||||||||||||||||||||||||||||||||||||||||||
06/16/2016 | 3RD READING CAL.1942 | |||||||||||||||||||||||||||||||||||||||||||||||||
06/16/2016 | PASSED SENATE | |||||||||||||||||||||||||||||||||||||||||||||||||
06/16/2016 | RETURNED TO ASSEMBLY | |||||||||||||||||||||||||||||||||||||||||||||||||
09/20/2016 | delivered to governor | |||||||||||||||||||||||||||||||||||||||||||||||||
09/29/2016 | signed chap.338 |
A07529 Committee Votes:
Magnarelli | Aye | Friend | Excused | ||||||
Gantt | Aye | McKevitt | Aye | ||||||
Magee | Aye | Stec | Aye | ||||||
Ramos | Excused | Brabenec | Aye | ||||||
Schimel | Excused | Wozniak | Aye | ||||||
Russell | Aye | ||||||||
Bronson | Aye | ||||||||
Ryan | Excused | ||||||||
Skartados | Aye | ||||||||
Buchwald | Aye | ||||||||
Gjonaj | Aye | ||||||||
Otis | Aye | ||||||||
Skoufis | Aye | ||||||||
Jean-Pierre | Aye | ||||||||
Woerner | Aye | ||||||||
Farrell | Aye | Oaks | Aye | ||||||
Lentol | Aye | Crouch | Aye | ||||||
Schimminger | Aye | Barclay | Aye | ||||||
Gantt | Aye | Fitzpatrick | Aye | ||||||
Weinstein | Aye | Saladino | Aye | ||||||
Glick | Aye | Hawley | Aye | ||||||
Nolan | Aye | Duprey | Aye | ||||||
Pretlow | Aye | Corwin | Excused | ||||||
Perry | Excused | Malliotakis | Aye | ||||||
Colton | Aye | Walter | Aye | ||||||
Cook | Aye | ||||||||
Cahill | Aye | ||||||||
Aubry | Aye | ||||||||
Hooper | Aye | ||||||||
Thiele | Aye | ||||||||
Wright | Excused | ||||||||
Cusick | Aye | ||||||||
Ortiz | Aye | ||||||||
Benedetto | Aye | ||||||||
Markey | Aye | ||||||||
Moya | Aye | ||||||||
Weprin | Aye | ||||||||
Rodriguez | Aye | ||||||||
Ramos | Aye | ||||||||
Braunstein | Aye | ||||||||
Heastie | Aye | Kolb | Aye | ||||||
Gottfried | Aye | Tedisco | Aye | ||||||
Lentol | Aye | Oaks | Aye | ||||||
Farrell | Aye | Butler | Aye | ||||||
Gantt | Aye | Crouch | Aye | ||||||
Nolan | Excused | Finch | Aye | ||||||
Weinstein | Aye | Barclay | Aye | ||||||
Hooper | Aye | Raia | Aye | ||||||
Ortiz | Aye | Duprey | Aye | ||||||
Pretlow | Aye | ||||||||
Cook | Aye | ||||||||
Glick | Aye | ||||||||
Morelle | Aye | ||||||||
Aubry | Aye | ||||||||
Englebright | Aye | ||||||||
Wright | Aye | ||||||||
Dinowitz | Aye | ||||||||
Colton | Aye | ||||||||
Magnarelli | Aye | ||||||||
Perry | Aye | ||||||||
Markey | Aye | ||||||||
Go to top
A07529 Floor Votes:
Yes
Abbate
Yes
Crespo
Yes
Gottfried
Yes
Lopez
Yes
Palumbo
Yes
Simon
Yes
Abinanti
Yes
Crouch
Yes
Graf
Yes
Lupardo
Yes
Paulin
Yes
Simotas
Yes
Arroyo
Yes
Curran
Yes
Gunther
Yes
Lupinacci
Yes
Peoples-Stokes
Yes
Skartados
Yes
Aubry
Yes
Cusick
Yes
Harris
Yes
Magee
Yes
Perry
Yes
Skoufis
Yes
Barclay
Yes
Cymbrowitz
Yes
Hawley
Yes
Magnarelli
Yes
Pichardo
Yes
Solages
Yes
Barrett
ER
Davila
Yes
Hevesi
Yes
Malliotakis
Yes
Pretlow
Yes
Stec
Yes
Barron
Yes
DenDekker
ER
Hikind
Yes
Markey
Yes
Quart
Yes
Steck
Yes
Benedetto
Yes
Dilan
ER
Hooper
Yes
Mayer
Yes
Ra
Yes
Stirpe
ER
Bichotte
Yes
Dinowitz
Yes
Hunter
Yes
McDonald
Yes
Raia
Yes
Tedisco
Yes
Blake
Yes
DiPietro
Yes
Hyndman
Yes
McDonough
Yes
Ramos
Yes
Tenney
Yes
Blankenbush
Yes
Duprey
Yes
Jaffee
Yes
McKevitt
ER
Richardson
Yes
Thiele
Yes
Brabenec
Yes
Englebright
Yes
Jean-Pierre
Yes
McLaughlin
Yes
Rivera
ER
Titone
Yes
Braunstein
Yes
Fahy
Yes
Johns
Yes
Miller
Yes
Robinson
ER
Titus
ER
Brennan
Yes
Farrell
Yes
Joyner
Yes
Montesano
Yes
Rodriguez
ER
Walker
Yes
Brindisi
Yes
Finch
ER
Katz
Yes
Morelle
Yes
Rosenthal
Yes
Walter
Yes
Bronson
Yes
Fitzpatrick
Yes
Kavanagh
Yes
Mosley
Yes
Rozic
Yes
Weinstein
Yes
Buchwald
Yes
Friend
Yes
Kearns
Yes
Moya
Yes
Russell
Yes
Weprin
Yes
Butler
Yes
Galef
ER
Kim
Yes
Murray
Yes
Ryan
Yes
Williams
Yes
Cahill
Yes
Gantt
Yes
Kolb
Yes
Nojay
Yes
Saladino
Yes
Woerner
Yes
Cancel
Yes
Garbarino
Yes
Lalor
ER
Nolan
Yes
Santabarbara
Yes
Wozniak
Yes
Castorina
Yes
Giglio
Yes
Lavine
Yes
Oaks
Yes
Schimel
Yes
Wright
Yes
Ceretto
Yes
Gjonaj
Yes
Lawrence
Yes
O'Donnell
Yes
Schimminger
Yes
Zebrowski
ER
Colton
Yes
Glick
Yes
Lentol
Yes
Ortiz
Yes
Seawright
Yes
Mr. Speaker
Yes
Cook
Yes
Goldfeder
Yes
Lifton
Yes
Otis
Yes
Sepulveda
Yes
Corwin
Yes
Goodell
Yes
Linares
Yes
Palmesano
Yes
Simanowitz
‡ Indicates voting via videoconference
A07529 Text:
Go to top STATE OF NEW YORK ________________________________________________________________________ 7529--B 2015-2016 Regular Sessions IN ASSEMBLY May 15, 2015 ___________ Introduced by M. of A. MAGNARELLI, LUPARDO, McDONALD, CRESPO, GOTTFRIED, FAHY, SKARTADOS, HUNTER -- Multi-Sponsored by -- M. of A. MAGEE -- read once and referred to the Committee on Local Governments -- recom- mitted to the Committee on Local Governments in accordance with Assem- bly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- again reported from said committee with amendments, ordered reprinted as amended and recommitted to said committee AN ACT to amend the not-for-profit corporation law, in relation to the powers of a land bank The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Clauses 20 and 21 of paragraph (a) of section 1607 of the 2 not-for-profit corporation law, as added by chapter 257 of the laws of 3 2011, are amended to read as follows: 4 (20) to enter in agreements with a foreclosing governmental unit for 5 the distribution of revenues to the foreclosing governmental unit and 6 school district; [and] 7 (21) to organize a subsidiary for a project or projects which the land 8 bank has the power to pursue under this article when the primary reason 9 for which the subsidiary shall be organized shall be to limit the poten- 10 tial liability impact of the subsidiary's project or projects on the 11 land bank or because state or federal law requires that the purpose of a 12 subsidiary be undertaken through a specific corporate or business struc- 13 ture. All real property of a subsidiary organized under this article 14 shall be maintained on the inventory lists required in this article of 15 the land bank of which it is a subsidiary and the subsidiary shall make 16 all reports and other disclosures as are required of land banks under 17 this article and as local public authorities, unless the subsidiary's 18 operations and finances are consolidated with those of the land bank of 19 which it is a subsidiary. Subsidiaries organized under this article EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10884-04-6A. 7529--B 2 1 shall be established in the form of a New York charitable not-for-profit 2 corporation or a New York single member limited liability company. 3 Subsidiaries shall not have the authority to issue bonds, notes or other 4 debts, provided, however, that such subsidiaries may issue notes or 5 other debt to the land bank of which it is a subsidiary. The organiza- 6 tional documents filed to create a subsidiary under this article shall 7 state that the land bank is organizing the subsidiary for the purposes 8 set forth in this article and the name of the subsidiary shall be 9 reasonably related to the name of the land bank of which it is a subsid- 10 iary. The real property of a subsidiary organized under this article and 11 its income and operations are exempt from all taxation by the state of 12 New York and by any of its political subdivisions; and 13 (22) to do all other things necessary to achieve the objectives and 14 purposes of the land bank or other laws that relate to the purposes and 15 responsibility of the land bank. 16 § 2. Paragraph (a) of section 1609 of the not-for-profit corporation 17 law, as added by chapter 257 of the laws of 2011, is amended to read as 18 follows: 19 (a) The land bank shall hold in its own name, or in the name of a 20 lawfully organized subsidiary, all real property acquired by the land 21 bank irrespective of the identity of the transferor of such property. 22 § 3. This act shall take effect immediately.