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A09689 Summary:

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A09689 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
            S. 7133--A                                            A. 9689--A
                                                                Cal. No. 559
 
                SENATE - ASSEMBLY
 
                                     March 30, 2016
                                       ___________
 
        IN  SENATE  --  Introduced  by  Sens. LAVALLE, LATIMER -- read twice and
          ordered printed, and when printed to be committed to the Committee  on
          Higher  Education  --  committee  discharged,  bill  amended,  ordered
          reprinted as amended and recommitted to said committee

        IN ASSEMBLY -- Introduced by M. of A. GLICK, BUCHWALD -- read  once  and
          referred to the Committee on Higher Education -- reported and referred
          to  the  Committee  on  Ways  and  Means  --  reported from committee,
          advanced to a third reading, amended and ordered reprinted,  retaining
          its place on the order of third reading
 
        AN ACT to amend chapter 405 of the laws of 2011, relating to authorizing
          the  lease  of  lands  located  at the state university of New York at
          Purchase, in relation to extending the authorization for the length of
          leased land
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section 2 of chapter 405 of the laws of 2011, relating to
     2  authorizing the lease of lands located at the state  university  of  New
     3  York at Purchase, is amended to read as follows:
     4    §  2.  The  trustees  of  the  state university of New York are hereby
     5  authorized to lease without any public bidding a portion of the lands of
     6  the state university of New York at Purchase generally described in this
     7  act to the Purchase college advancement  corporation,  a  not-for-profit
     8  corporation,  upon such terms and conditions as the trustees deem advis-
     9  able, for an initial term not to exceed [forty] seventy-five  years  [or
    10  for  such  time  as  may  be necessary to complete repayment of any debt
    11  related to the projects described in this act,  whichever  is  shorter].
    12  In  the  event that the real property which is the subject of such lease
    13  or contract shall cease to be used for the purposes  described  in  this
    14  act,  said  lease  shall immediately terminate and the real property and
    15  any improvements thereon shall revert to the  state  university  of  New
    16  York.  Any  contract  or  lease  entered into pursuant to this act shall
    17  provide that the real property which is the subject  of  such  lease  or
    18  contract  and any improvements thereon shall revert to the state univer-
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD14869-02-6
        S. 7133--A                          2                         A. 9689--A
 
     1  sity of New York upon the expiration of such lease. The  description  of
     2  the  parcels  to  be leased pursuant to such section are not meant to be
     3  legal descriptions, but are intended only to identify  the  parcels  and
     4  improvements  to  be  leased for purposes consistent with the mission of
     5  the state university of New York at Purchase.
     6    § 2. Subdivision (a) of section 13 of chapter 405 of the laws of 2011,
     7  relating to authorizing the lease of lands located at the state  univer-
     8  sity of New York at Purchase, is amended to read as follows:
     9    (a)  Any  contracts  or leases entered into by the state university of
    10  New York [or] with the Purchase college advancement corporation pursuant
    11  to this act shall be subject to approval of the attorney general  as  to
    12  form as well as by the director of the budget and the state comptroller.
    13  Any and all proceeds relating to the leases authorized by this act shall
    14  be  allocated  by  the  board  of  trustees  for Purchase college, state
    15  university of New York, in the following manner:   seventy-five  percent
    16  to  the student financial aid for students who are eligible to receive a
    17  tuition assistance award or supplemental tuition assistance pursuant  to
    18  section  667  or  667-a  of the education law and twenty-five percent to
    19  support additional full-time faculty positions.
    20    § 3. This act shall take effect immediately.